Group Finance Director Chris Lucas

Chris Lucas.

Group Finance Director Chris Lucas to step down due to ill health

14 Aug 2013, 07:00 BST

Barclays PLC and Barclays Bank PLC (“Barclays”) announce that Chris Lucas will step down from the Board and as Group Finance Director on 16 August. This is earlier than the previously announced date for Mr Lucas to step down of 28 February 2014, and is brought forward due to health reasons.

Chris has helped navigate our company through many challenges during his six years with the business, and has played a key part in building the foundations which will ensure Barclays becomes the ‘Go-To’ bank in the years ahead.     

Group Chief Executive Antony Jenkins

Group Finance Director, Chris Lucas said:

“My health was a key factor behind my decision to step down which we announced in February. Whilst I had hoped to be able to continue working until early next year it is now clear to me that with my health as it is this will no longer be possible. I want to do the right thing by Barclays, my family, and myself, and therefore I have reached the difficult decision to step down sooner. I feel confident that I leave Barclays financially robust and well placed to continue to serve its customers, clients, shareholders and other stakeholders.”

Group Chief Executive, Antony Jenkins said:

“It is typical of Chris that last year when he told me that he wished to step down he offered to stay as long as he could while we found and inducted a successor. I am very grateful for his support, advice and wisdom during my first year as Chief Executive. Chris has helped navigate our company through many challenges during his six years with the business, and has played a key part in building the foundations which will ensure Barclays becomes the ‘Go-To’ bank in the years ahead.”

Chairman, Sir David Walker said:

“Throughout his time at Barclays, Chris has been a valued member of the Board and, I know, from my conversations with many of them, a respected Finance Director amongst our investors. Whilst I am saddened that his health has forced this decision on him sooner than either of us would have wished I respect his decision and wish him well in the future. He has successfully navigated Barclays’ finances through one of the most difficult periods in its history, and he has every right to be proud of what he has done here. On behalf of the Board and Barclays’ shareholders I thank him for his substantial contribution.”

Barclays announced on 3 February 2013 that Chris Lucas would step down from his role as Group Finance Director. On 16 July 2013, Barclays announced that Tushar Morzaria would succeed Mr Lucas as Group Finance Director. Tushar will now take up his appointment as Group Finance Director on 15 October 2013 and join the Board on this date.

Peter Estlin, Group Financial Controller, will be Acting Chief Financial Officer until 15 October 2013. Peter is deeply familiar with all aspects of the Group’s finances, including the capital raising. He will not join the Board though will attend Executive Committee meetings.

More on Barclays’ Board and Executive Committee