Standard Chartered Directors May Push For CEO Succession Plan: FT

(RTTNews) - Standard Chartered Plc.'s (SCBFF.PK, STAC.L, STAN.L) non-executive directors plan to discuss a succession plan for its chief executive officer Peter Sands at a private meeting with the bank's chairman next week, the Financial Times reported, citing people familiar with the matter.

The lender recently reported lower third-quarter pre-tax profit, as trading conditions remained subdued. The bank also said it expects underlying profits in the second half to fall from the prior year, considering the income momentum and loan impairment seen in the quarter.

The company's shares touched a five-year low after the third profit warning was issued in the past 12 months, amid a fresh investigation by US regulators.

Standard Chartered's board is scheduled to meet in Singapore on Tuesday, where the non-executives will discuss whether to speed up a succession plan by preparing a shortlist of candidates for the post.

The stock fell 0.4 percent on Friday to 939.60 pence.