FD search for Rock begins

Northern Rock has begun its search for a new chairman and finance director as
plans to rescue the bank gain support from shareholders.

A shortlist of candidates has already been drawn up by non-executive
director, Paul Thompson, who is particularly on the lookout for a ‘heavyweight’
FD to replace Dave Jones.

He refused to divulge details of his list of candidates for chairman, but
they could include his ex-boss Clive Cowdery or Ron Sandler, formerly picked by
Gordon Brown to lead the Rock if plans for nationalisation went ahead.

If the plans succeed, Thompson would step into the chief executive role.

The plan has so far won £700m in investor commitments.

Further reading:

Virgin ready with FD and board for Rock

Rock FD pans bank

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