Rick Haythornthwaite has been named the successor to Sir Howard Davies as chair of NatWest Group plc, subject to regulatory approval.
Haythornthwaite will join the board as an independent non-executive director on January 8th, 2024, and will formally take on the role of chair on April 15th, 2024, upon Davies’ departure from the board.
The news follows the search for a successor initiated at the annual general meeting (AGM) in April 2023. “Today’s announcement follows a rigorous process which I have led along with the senior independent directors from our ring-fenced bank.
“After careful consideration of a number of high-quality candidates, the board has unanimously chosen Rick as our new chair,” said Mark Seligman, senior independent director of NatWest Group.
Haythornthwaite brings a wealth of experience to the role, having served as the chair of Ocado Group plc and holding a non-executive director position at NYSE-listed Globant S.A. “Rick is a highly experienced chair who combines a successful commercial career with a deep knowledge of financial services markets and technology, as well as a strong track record of delivery at significant customer-facing organisations,” Seligman added.
Commenting on his successor, Sir Howard Davies added: “I am very pleased by the choice the board has made and am confident that Rick’s experience and range of skills will complement and further strengthen the NatWest board in the years to come. I look forward to working closely with him to ensure a smooth handover next year.”
For his part, Haythornthwaite said: “It is a privilege to assume the role of NatWest Group chair. I am inheriting a very different NatWest compared to my predecessor; one that is more customer-focused, financially resilient, and well-positioned to maintain its recent strong performance. I look forward to working with the board to build on the exceptional progress made, so we can continue to support the UK economy and deliver for our customers and stakeholders.”
Prior to his appointment, Haythornthwaite will step down as a director of Globant S.A. and from various private company directorships, except for the AA, where he will transition to a non-executive director role.
His resume also includes previous roles as global chair of Mastercard Inc., chair of Centrica plc, chair of Network Rail Limited, and numerous other board memberships in sectors ranging from technology to the creative industries.
