Barclays Appoints Non-Executive Directors

Barclays Building Sign

Barclays has announced that Frits van Paasschen and Michael Ashley have been appointed as non-executive Directors of Barclays with effect from 1 August 2013 and 1 September 2013 respectively.

Frits van Paasschen is President and CEO of Starwood Hotels and Resorts Worldwide, Inc., one of the world’s largest hotel companies. Since taking on this role, he has led a significant expansion of the business into new markets and launched two new hotel brands.

Van Paasschen is an experienced CEO having also served as President and CEO of Coors Brewing Company between 2005 and 2007, during which time he presided over a major turnaround leading to an increased market share for the business. Prior to 2005 Frits held various senior positions with Nike Inc and Disney Consumer Products. Frits formerly served as a Director on the Boards of Jones Apparel Group Inc. and Oakley, Inc.

Michael Ashley is Head of Quality and Risk Management for KPMG Europe LLP (‘ELLP’), which forms part of the KPMG global network, where his responsibilities include the management of professional risks and also quality control. Michael is a member of the ELLP Board and is also KPMG UK’s designated Ethics and Independence Partner.

Ashley is a highly experienced auditor and financial expert, with over 20 years experience as an audit partner, during which he was lead audit partner for several large financial services groups. He is a member of the Institute of Chartered Accountants in England and Wales’ Ethics Standards Committee, a member of HM Treasury’s Audit Committee and Vice Chair of the European Financial Reporting Advisory Group’s Technical Expert Group.

Commenting, Sir David Walker, Group Chairman, said, 'I am pleased to announce Frits and Michael’s appointments to the Barclays’ Board. Both have significant experience dealing with the challenges of leading complex global businesses, which will support the Board in its oversight of the delivery of Transform. In addition, Frits brings a valuable marketing and retail background as well as experience driving a turn-around strategy. Michael brings strong financial skills and an extensive knowledge of banking. Michael’s background in ethics will also be valuable as Barclays continues to embed its recently launched Purpose and Values'.

image: © Elliot Brown

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