Baroness Noakes to step down as NatWest Group’s non-exec director

Natwest Group PLC (LON:NWG) announces that Baroness Noakes, DBE will step down as a non-executive director at close of business today, July 31, 2020.

Morten Friis will succeed Baroness Noakes as Chairman of the Group Board Risk Committee with effect from 1 August.

Howard Davies, Chairman, said:

“I would like to thank Sheila for her outstanding contribution to the Board since joining as a non-executive director in 2011. She has expertly chaired the Group Board Risk Committee since 2014, successfully navigating some challenging times along the way. She has also served as a diligent and valued member of the Group Audit Committee and Group Nominations and Governance Committee. She leaves with our very best wishes for the future.

I am delighted that Morten is assuming the role of Chairman of the Group Board Risk Committee. Morten has been a member of the Committee since 2014 and, with his extensive background in banking and risk, he is ideally placed to take the Committee’s work forward. “

Baroness Noakes is an experienced director on UK listed company boards with extensive and varied political and public sector experience.

A qualified chartered accountant, she previously headed KPMG’s European and International Government practices and has been President of the Institute of Chartered Accountants in England and Wales. She was appointed to the House of Lords in 2000 and has served on the Conservative front bench in various roles including as shadow treasury minister between 2003 and May 2010.

She previously held non-executive roles on the Court of the Bank of England, Hanson, ICI, Severn Trent, Carpetright, John Laing, SThree and Ofcom.