July 6 Mike Rake has quit the race to become
Barclays PLC's next chairman as the CBI president feels
the role would prevent him from taking on any further positions,
Sky News reported on Saturday, citing sources.
Rake, who also chairs British telecommunication company BT
Group, told John Sunderland, who is leading the search
for the new chairman, in the last couple of weeks that he did
not want to be considered for the role, Sky quoted headhunting
sources as saying. (bit.ly/1rykcYY)
Sunderland, a non-executive director at Barclays, was
appointed in April to lead the search for a potential successor
to Chairman David Walker.
Walker, who joined in the bank in the wake of the Libor
scandal in 2012, was expected to serve for a maximum of three
Barclays could not be reached for a comment outside of
regular business hours in Britain.
(Reporting by Esha Vaish in Bangalore; Editing by Marguerita