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Lloyds CEO Takes a Break
The surprise move by 47-year-old António Horta-Osório threw Lloyds into turmoil and sent shockwaves through the London banking industry. At an emergency board meeting Wednesday morning, the partly nationalized retail bank's directors named outgoing finance chief Tim Tookey to temporarily replace Mr. Horta-Osório. The bank's shares slumped 7.5% in afternoon trade on the London Stock Exchange.
Lloyds said in a statement that Mr. Horta-Osório "is taking a temporary leave of absence…due to illness." The bank said it expects him to return before the end of the year.
...the CEO of Lloyds Bank filed in for sick leave due to extreme "stress"