THE HEAD OF a major banking group has been ordered by doctors to take leave from his job – because he’s suffering from fatigue.
António Horta-Osorio has been temporarily replaced as CEO of Lloyds Banking Group Plc by the group’s Finance Director Tim Tookey, according to a statement from Lloyds. Horta-Osorio became CEO just eight months ago.
The part-nationalised bank said today that Antonio Horta-Osorio is expected to be back at work by the end of the year. Lloyds was one bank that was hit by the Irish banking crisis, and had to write off half of its loans to Irish clients, according to the Telegraph in December of last year.
The bank gave no details of the nature of Horta-Osorio’s illness. The Press Association news agency and the Financial Times quoted unidentified sources as saying Horta-Osorio was suffering from stress, or extreme fatigue.
The 47-year-old Horta-Osorio, a former executive at Spanish bank Santander, stepped into the top job at Lloyds in March.
Lloyds share price was down 4.5 per cent at 29 pence sterling in mid-morning trading in London.
This is an interview with António Horta-Osorio this time last year. To be fair, he sounds like he had a lot on his plate: