1. Barclays Axes CEO Jenkins to Accelerate Strategic Change

    Business Insider BoardNews
    Barclays Axes CEO Jenkins to Accelerate Strategic Change

    LONDON (Reuters) - British lender Barclays has ousted Chief Executive Antony Jenkins after three years in the post, saying on Wednesday it had decided new blood would help accelerate strategic change at the bank and boost shareholder returns. Shares in the bank jumped in early trade and were up 2.6 percent at 258.80 pence by 0735 GMT. The surprise move comes weeks after John McFarlane took over as chairman of the bank and signaled his intention to speed up its turnaround plan...

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    1. If this move does indeed act as a catalyst for an accelerated improvement in Barclays' financial performance, then this can only be a good thing.
    2. We therefore need to improve revenue, costs and capital performance. We also need to become more externally focused and deal with the internal bureaucracy by becoming leaner and more agile.
    3. It is easy to forget just how bad things were three years ago both for our industry and even more so for us. I am very proud of the significant progress we have made since then.

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