EmailBarclays PLC (BCS $10.97 +0.20) announced the resignation of Bob Diamond as Chief Executive and a Director of BCS with immediate effect. The company announced that Marcus Agius will become full-time Chairman and will lead the search for a new Chief Executive. Marcus will chair the Barclays Executive Committee pending the appointment of a new Chief Executive and he will be supported in discharging these responsibilities by Sir Michael Rake, Deputy Chairman. The search for a new Chief Executive will commence immediately and will consider both internal and external candidates.
The businesses will continue to be managed by the existing leadership teams. Bob Diamond stated "No decision over that period was as hard as the one that I make now to stand down as Chief Executive. The external pressure placed on Barclays has reached a level that risks damaging the franchise -- I cannot let that happen. I am deeply disappointed that the impression created by the events announced last week about what Barclays and its people stand for could not be further from the truth."
