British Land confirmed on Monday that CEO Stephen Hester will step down from his post to become chief executive of The Royal Bank of Scotland, one of the banks to be hit hardest by the credit crisis. He will replace Sir Fred Goodwin.
British Land confirmed on Monday that CEO Stephen Hester will step down from his post to become chief executive of The Royal Bank of Scotland, one of the banks to be hit hardest by the credit crisis. He will replace Sir Fred Goodwin.
The exact date of Hester's departure has yet to be agreed between the two companies, British Land said in a statement. Until that time, he will remain in place as CEO of British Land. Succession plans will be announced in due course, the company said.
RBS is raising around EUR 25 bn in new money in a government-backed rescue operation which will see the bank largely nationalised.
