- Push-out Score determined
- After about five and a half years in the position
- Praise and thanks for McEwan
- Search for a successor
- McEwan spoke at length and said 142 words
(exechange) — Edinburgh, United Kingdom, April 25, 2019 — Ross McEwan, chief executive of RBS, leaves. As announced by Royal Bank of Scotland Group Plc in a regulatory filing published on Thursday, April 25, 2019, Ross McEwan leaves his post as chief executive officer at the British banking and insurance holding company after about five and a half years in the role.
McEwan has a 12 month notice period and will remain in his position until a successor has been appointed and an orderly handover has taken place. “The effective date of his departure will be confirmed in due course,” RBS said.
RBS will undertake a search for a successor.
“Time for me to step down”
Ross McEwan’s departure from the CEO post is explained as follows. Ross McEwan said: “After over five and a half very rewarding years, and with the bank in a much stronger financial position it is time for me to step down as CEO.”
Precise information regarding Ross McEwan’s future plans was not immediately available.
RBS said: “Ross McEwan has resigned from his role as Chief Executive Officer (CEO) and Executive Director.”
Share price decline
The announcement follows a decline in Royal Bank of Scotland Group PLC’s share price of 35 percent since February 2015.
Chaired by Howard Davies
Royal Bank of Scotland Group PLC is chaired by Howard Davies.
In the position of CEO since 2013
Ross McEwan became Chief Executive of The Royal Bank of Scotland Group in October 2013.
Between August 2012 and September 2013, he was Chief Executive Officer for UK Retail, joining from Commonwealth Bank of Australia where he was Group Executive for Retail Banking Services for five years.
Prior to this he was Executive General Manager with responsibility for the branch network, contact centres and third party mortgage brokers.
McEwan has more than 25 years’ experience in the finance, insurance and investment industries, and prior to Commonwealth Bank of Australia, was Managing Director of First NZ Capital Securities.
He was also Chief Executive of National Mutual Life Association of Australasia Ltd/AXA New Zealand Ltd.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to RBS and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 17.2019 ($).