Lloyds CEO to Return After Illness
Lloyds Banking Group said Chief Executive António Horta-Osório will return to work Jan. 9 but with more power being given to his management team.
The 41%-government-owned bank had been in some disarray following Mr. Horta-Osório's sudden departure in November due to illness. The bank had always said it expected Mr. Horta-Osório to return to his post in the New Year, but the continuing uncertainty over the company's future management had helped send shares to record lows.
Shares were flat on the announcement.