As part of an orderly succession plan balancing stability with fresh perspective, the Board of Standard Chartered Plc has announced a comprehensive package of changes to its Board. Current Group Chief Executive Peter Sands is to stand down from the Board, giving way to William Thomas Winters (“Bill”) as the new Group Chief Executive with his appointment to the Board taking effect in June 2015.

The comprehensive changes to the board also extends to the topmost levels as current Chairman, Sir John Peace has indicated an intention to step down from the Board during the course of 2016, allowing time for Bill Winters to transition into his new role and to ensure Board level continuity.

Speaking about the ongoing transitions, Sir John Peace stated that “Bill Winters is a globally respected banker and has the right experience and skills to drive the Group’s new phase of growth.

He brings substantial financial experience from leading a successful global business and has an exceptional understanding of the global regulatory and conduct environment. He’s also a proven leader with a strong track record in nurturing and developing talent.”

He continued in praising the efforts of the Current Group Chief Executive stressing that “Peter Sands has made an immense contribution to the success of the Group and has had a transformative impact during his 13 year tenure as both Group Chief Executive and previously as Group Finance Director.

Since becoming Group Chief Executive in 2006, the Group has more than doubled in size, has been consistently profitable and has returned over USD12 billion of dividends to shareholders. His leadership and insight, over a period of huge change and challenge for the entire industry, ensures he leaves the Group well placed to achieve its full potential.