Business Context and Reporting Period
This Form 6-K filing by Lloyds TSB Group plc, dated February 6, 2003, reports a significant change in the company's directorate. The announcement concerns the appointment of a new Executive Director and the transition of roles for two senior executives effective at the Annual General Meeting on April 16, 2003.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly a regulatory announcement regarding personnel changes and contains no financial performance data.
Material Changes
- Executive Appointment: Steve Targett, currently Chief Executive Officer Europe for National Australia Group, will succeed David Pritchard as Group Executive Director, Wholesale and International Banking.
- Role Transition: David Pritchard will retire as an executive director and assume the role of Deputy Chairman.
- Departure: Alan Moore CBE will leave Lloyds TSB after 23 years of service, including 14 years as a Board member, vacating the Deputy Chairman position.
- Effective Dates: Steve Targett joins the Group on March 10, 2003, and assumes full responsibilities following the AGM on April 16, 2003.
Management Commentary and Outlook
Maarten van den Bergh, Chairman of Lloyds TSB Group plc, expressed satisfaction with securing Steve Targett's extensive background in wholesale and international banking across Australia, Europe, and the Far East. The Chairman emphasized that David Pritchard's continued involvement as Deputy Chairman will provide key advice on wholesale, regulatory, and technical issues. The board acknowledged Alan Moore's significant contributions over 30 years, particularly his expertise in treasury and international banking.
Key Facts for Investor Verification
- Confirm the exact start date of Steve Targett's tenure (March 10, 2003) and the handover of responsibilities post-AGM.
- Verify the scope of David Pritchard's advisory role as Deputy Chairman.
- Review the biographical details of Steve Targett to assess his specific experience in global markets and treasury operations.
- Note that this filing contains no financial results; investors should refer to the most recent Form 20-F for financial data.