Standard Chartered dismissed media rumours that its chairman was working on a succession plan amid shareholder pressure.
Reuters reports that Standard Chartered said in a statement late on Wednesday that it was united in its support of both Group CEO Peter Sands and Chairman Sir John Peace in restoring the bank to profitable growth.
The bank said robust and considered succession plans for all of the senior leaders were in place.
'We take our board succession extremely seriously and discuss this topic with our shareholders on a regular basis', the Standard Chartered statement said.
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