Bank of England oversight body gets three new directors

Three new directors have been appointed to the body which oversees the board of the Bank of England, including one who last week faced a shareholder rebellion over his appointment to the board he chairs.

Almost one in three investors in the credit checking company Experian failed to back the election of Don Robert at last week's annual general meeting.

Robert is one of the three new appointments to the Court of the Bank of England alongside Dido Harding, the chief executive of telecoms company TalkTalk, and Dorothy Thompson, chief executive of energy company Drax.

Their appointments come as part of an effort to address the gender imbalance at the Bank of England. Nemat Shafik, the new deputy governor responsible for markets and banking, is the only female on the board of the court, which is akin to a board of directors in a public company.

Announcing the three new appointments, George Osborne, the chancellor, said: "All three are highly qualified and experienced people who will strengthen and diversify the bank's board."

The shareholder rebellion against Robert was by those who abstained against his election to the board because he was being elevated to the chairman's role from chief executive – a succession process frowned upon under City corporate governance codes.

Shafik's appointment in March ended the all-male dominance of the interest-rate setting body at the Bank,the Monetary Policy Committee, while the former boss of the London Stock Exchange, Clara Furse, is the only woman on the new financial watchdog at the Bank, the Financial Policy Committee.Harding is the granddaughter of field marshall John Harding, who commanded the Desert Rats in the second world war and is a former jockey.

Powered by article was written by Jill Treanor, for The Guardian on Monday 21st July 2014 19.56 Europe/London © Guardian News and Media Limited 2010


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