Standard Chartered Regulatory News (STAN)

1 August 2022

STANDARD CHARTERED PLC

ANNOUNCES CHANGES TO ITS BOARD AND COMMITTEES

Standard Chartered PLC (the "Company") today announces a number of changes to its Board and Committees.

Jacqueline (Jackie) Hunt has been appointed as an independent non-executive director of both the Company and Standard Chartered Bank, with effect from 1 October 2022. 

Jackie brings significant UK and international financial services experience, including asset management, insurance, regulatory and accounting knowledge gained across a number of senior executive and board positions. Between 2016 and 2021, she was a member of the Allianz SE management Board with executive responsibility for the asset management and US life insurance divisions. Prior to that, Jackie was an executive director of Prudential plc with responsibility for Prudential UK, Europe and Africa. She was also Group Chief Financial Officer of Standard Life plc from 2010 to 2013, where she helped transform the life insurer into a diverse savings, pensions and asset management business.

Jackie has built a successful portfolio non-executive career, currently serving as an independent non-executive director of Man Group plc, a company listed on the London Stock Exchange, and non-executive director of OneWeb Holdings Limited, a global satellite communications company and Rothsay Life. She was the senior independent director of National Express Group plc from 2012 to 2015, the deputy chair of the Financial Conduct Authority Practitioner Panel between 2012 and 2016 and a non-executive director of TheCityUK from 2014 to 2015.

On appointment, Jackie will join our Audit and Culture and Sustainability Committees.

The Company also announces that Byron Grote, Independent Non-Executive Director and member of the Audit Committee and Remuneration Committee has decided to retire on 30 November 2022, having served on the Board for more than eight years.

In addition, the Company announces that Christine Hodgson, Senior Independent Director and Chair of the Remuneration Committee, who had signalled her intention to retire from the Board at the end of her nine-year term in September 2022 has agreed to remain on the Board until 31 January 2023, at the request of the Company. 

This will enable Christine to lead the shareholder consultation required following a significant minority vote against the Company's remuneration policy and report resolutions at the 2022 AGM. It will also enable Christine to facilitate the orderly transition of her role as Chair of the Company's Remuneration Committee to her successor, who will be announced once they receive regulatory approval. 

Christine will step down as Senior Independent Director and be succeeded by Maria Ramos, on 1 September 2022.

Following receipt of the necessary regulatory approvals, Maria has been appointed Chair of the Board Risk Committee with effect from 1 August 2022, succeeding Phil Rivett who had held the Chair role on an interim basis since the retirement of Naguib Kheraj from the Board on 30 April 2022. Maria will also join the Governance and Nomination Committee on 1 August 2022.

Shirish Apte will join the Remuneration Committee on 1 August 2022 and David Conner will join it on 1 October 2022.  

David Conner will step down from the Culture and Sustainability Committee and Robin Lawther will join it on 1 October 2022. 

José Viñals, Group Chairman said:

"We are delighted to welcome Jackie to Standard Chartered. She brings considerable experience from executive and non-executive roles across a wide range of financial services business and a strong commitment to advance the Company's ESG commitment. We look forward to Jackie's contributions to the Board and Committee discussions.

We would also like to thank Byron for his exceptional service and dedication to the Board over the past eight years. Byron has played a key role in the work of the Audit and Remuneration committees and will work closely with Jackie to share his knowledge in the lead up to his retirement. We wish Byron all the very best for the future.

Finally, we would like to thank Christine for her flexibility in extending her term on the Board and for serving as Senior Independent Director with distinction. We are fortunate to be able to continue to benefit from her insights at our Board and Committee meetings for the period of her extension."

Jackie Hunt said:

"I am delighted to be joining the Board of Standard Chartered. I have long-admired the Group's commitment to driving prosperity, focus on supporting sustainable trade and investment and desire to support its customers and communities."

ENDS

For further information, please contact:

Shaun Gamble

Shaun.Gamble@sc.com

+44 20 7885 5934

Additional Information:

Remuneration statement in relation to Jackie Hunt

The independent non-executive directors do not participate in any of the Company's incentive arrangements. As an independent non-executive director, Jackie Hunt will have a contract for services with the Company. Jackie Hunt will receive a fee of GBP105,000 per annum for her services as an independent non-executive director, with additional fees of GBP35,000 per annum as a member of the Audit Committee and GBP30,000 per annum as a member of the Culture and Sustainability Committee, pursuant to the Directors' remuneration policy. This is disclosed in accordance with the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the "Hong Kong Listing Rules").

Additional information - Jackie Hunt

Jackie Hunt has no relationship with any other Director, member of senior management or substantial or controlling shareholder of Standard Chartered PLC.

Jackie Hunt currently holds no shares in the Company.

Jackie Hunt's appointment as a Director of the Company is subject to annual re-election by shareholders and election at the 2023 AGM.

Save as disclosed above, there is no other information to be disclosed under the requirements of UK Listing Rule 9.6.13 (1-6) and Rule 13.51(2) of the Hong Kong Listing Rules in relation to Jackie Hunt's appointment.

Additional information - Byron Grote

There are no matters relating to the retirement of Byron Grote that need to be brought to the attention of the shareholders of the Company.

Standard Chartered

We are a leading international banking group, with a presence in 59 of the world's most dynamic markets and serving clients in a further 83. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

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