AIB - Banking Commission Report
(Thomson Reuters ONE) -
Allied Irish Banks, p.l.c. ("AIB") [NYSE:AIB] is making the following
announcement in the context of the imminent publication of the Banking
Commission report.
AIB has received significant State support including direct capital injections
and various funding related guarantees. As outlined at our annual results
presentation on 12(th) April, a fundamental restructuring of the bank is taking
place. This includes the establishment of a core and non-core bank, changes to
the core market facing strategy, operational effectiveness and the control
framework. A large amount of remediation activity is also needed to ensure the
bank is able to operate in its new form and in accordance with the emerging new
governance requirements.
Amongst the most critical components of this restructuring programme are further
planned changes to the bank at Board and top management levels. Although many
changes have already taken place in the last two years, the Board has decided
that more change is required to enable the bank focus on the future. This will
be addressed during the course of 2011 through further changes at Board and
senior management level. Steps are being taken and time frames are being chosen
to allow an orderly transition of skills and knowledge to take place.
AIB expects to announce the roles and some members of its new Executive
Management team shortly, when the approval of the Financial Regulator has been
finalised. This was previously stated at the bank's recent results presentation
and other senior management changes, including exits from the bank, will take
place between now and the end of 2011.
The AIB Board currently includes three members who were appointed in 2007. In
line with the bank's determination to focus on the future, these members have
decided not to seek re-election to the Board at the 2011 Annual General Meeting.
All other Board members were appointed in 2009 or 2010.
Announcements will be made once appointments have been finalised and the
necessary approvals have been obtained.
- ENDS -
For further information, please contact:
Alan Kelly Catherine Burke
General Manager, Corporate Services Head of Corporate Relations and
Communications
AIB Group AIB Group
Dublin Dublin
Tel: +353-1-6412162 Tel: +353-1-6413894
email: alan.j.kelly(at)aib.ie email: catherine.e.burke(at)aib.ie
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Allied Irish Banks, p.l.c. via Thomson Reuters ONE
[HUG#1507801]
Unternehmensinformation / Kurzprofil:
Datum: 19.04.2011 - 16:31 Uhr
Sprache: Deutsch
News-ID 53722
Anzahl Zeichen: 3455
contact information:
Town:
Dublin 4
Kategorie:
Business News
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"AIB - Banking Commission Report"
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