(In second paragraph corrects to "chairman" from "chiefexecutive")
* Bischoff will step down by May 2014
* Anthony Watson to lead search for replacement
May 13 (Reuters) - Lloyds Banking Group said onMonday its chairman Win Bischoff, who has overseen a majorrestructuring of the business since it was rescued by thegovernment in 2008, will retire in the next year.
The bank, which is 39 percent owned by British taxpayers,said Anthony Watson, its senior independent director, would leadthe search for a new chairman.
Lloyds said Bischoff will retire no later than next year'sannual shareholders' meeting in May 2014.
(Reporting by Matt Scuffham; Editing by Sinead Cruise)
Lloyds (LLOY)
