UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
October 2006
Barclays PLC and
Barclays Bank PLC
(Names of Registrants)
1 Churchill Place
London E14 5HP
England
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No x
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
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This Report is a joint Report on Form 6-K filed by Barclays PLC and Barclays
Bank PLC. All of the issued ordinary share capital of Barclays Bank PLC is
owned by Barclays PLC.
This Report comprises:
Information given to The London Stock Exchange and furnished pursuant to
General Instruction B to the General Instructions to Form 6-K.
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EXHIBIT INDEX
Directorate Change dated 17 October 2006
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each of
the registrants has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BARCLAYS PLC
(Registrant)
Date: October 17, 2006 By: /s/ Patrick Gonsalves
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Patrick Gonsalves
Deputy Secretary
BARCLAYS BANK PLC
(Registrant)
Date: October 17, 2006 By: /s/ Patrick Gonsalves
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Patrick Gonsalves
Joint Secretary
17 October 2006
CHRIS LUCAS TO BE APPOINTED GROUP FINANCE DIRECTOR
Barclays PLC and Barclays Bank PLC ("Barclays") announce the following changes
to their Boards.
Chris Lucas (46) is appointed to the position of Group Finance Director with
effect from April 1, 2007 in succession to Naguib Kheraj (42).
Chris Lucas joins Barclays from PricewaterhouseCoopers (PwC) where he is UK Head
of Financial Services and Global Head of Banking and Capital Markets. He was
Global Relationship Partner for Barclays for the 1999 - 2004 year ends and
subsequently held similar roles for other global financial services
organisations. Chris Lucas has worked across financial services accounting for
most of his career, including three years in New York as Head of the US Banking
Audit Practice.
Naguib Kheraj will be responsible for the 2006 financial statements and will
continue to be available after the publication of the Annual Report in March
2007 to ensure a smooth handover of responsibilities to Chris Lucas. He intends
to leave the Group in the second half of 2007.
Commenting, John Varley, Group Chief Executive, said:
"I am delighted to welcome Chris Lucas to Barclays. Chris has worked with us for
many years, is a renowned global expert on financial services and knows Barclays
intimately. He will make a great contribution to the business.
I am very sorry that Naguib is leaving us. He has made an outstanding
contribution to Barclays and has been a great partner to me in my role as Group
Chief Executive. I would have been delighted for Naguib to stay with Barclays
for all his career but I respect his decision to broaden his career experience.
We have a well defined and clear transition plan."
Commenting, Naguib Kheraj, Group Finance Director, said:
"It has been an immensely rewarding experience both personally and
professionally to have worked for Barclays over the last nine years in a variety
of roles, culminating in the position of Group Finance Director for the past
three years. We have made tremendous progress and delivered very good results to
shareholders. I have never considered myself a lifetime Finance Director and I
believe now is the right time to move on to the next stage of my career."
Commenting, Chris Lucas, said:
"I am delighted to be joining Barclays at this time of rapid growth. The
business is one of the best performing in the industry with an extremely strong
management team."
ENDS
Biographical details are attached.
Contractual arrangements are attached.
Photographs available at www.barclays.com
For further information please contact:-
Media Relations Investor Relations
Stephen Whitehead Mark Merson
+44 (0) 20 7116 6060 +44 (0) 20 7116 5752
BIOGRAPHICAL NOTES: CHRIS LUCAS
Education
Dauntsey's School, Devizes
Southampton University
BSc Accounting and Economics
Professional Experience:
1983 - 2006 PricewaterhouseCoopers
Worked across the firm in various roles
1996 Partner, Head of US Banking Audit Practice, New York
1999 Global Relationship Partner - Barclays
2000 Business Unit Leader, Banking & Capital Markets, London
2004 UK Head of Financial Services
2005 Global Head of Banking and Capital Markets
CONTRACTUAL ARRANGEMENTS AND INTERESTS IN SHARES - CHRIS LUCAS
The appointment of Mr Lucas as an Executive Director of Barclays PLC and
Barclays Bank PLC ("Bank") will become effective on April 1, 2007.
Service Contract
Key terms of the service contract for Mr Lucas, who becomes an Executive
Director on April 1, 2007, are set out below.
Job Title
Group Finance Director
Salary
Basic salary: GBP600,000 per annum
Performance Related Bonus
The Board HR and Remuneration Committee will, in line with our usual practice,
determine the size of any award, which will be discretionary, dependent on both
business and individual performance.
For 2007, a guaranteed award of GBP600,000 has been agreed, comprising a cash
bonus of GBP450,000 and a recommended deferred share based award of GBP150,000.
This will be made in March 2008.
Share Awards
The Board HR and Remuneration Committee will, in line with our usual practice,
determine the size of awards of performance shares to be made each year under
the shareholder approved Performance Share Plan. The 2007 award will be
recommended to be made as soon as practicable after Mr Lucas' start date for an
initial allocation of GBP600,000 under the plan.
In addition, there will be a recommended share award of GBP500,000 on joining to
vest 50% after 1 year and the remainder after 2 years. This award is in
recognition of forfeited remuneration.
Benefits
Mr Lucas will be eligible to participate in the following benefits: life cover;
use of company car or cash equivalent; medical insurance; ill-health income plan
and all-employee share plans - Sharesave and Sharepurchase.
Pension
Mr Lucas will receive a pension provision of up to 25% of his annual base
salary, either through the Bank's pension scheme or as a cash allowance.
Notice Period
The service contract provides for a notice period of 12 months from Barclays or
6 months from Mr Lucas.
Severance Arrangements
On termination, the service contract for Mr Lucas provides for a pro-rated
phased payment of his notice entitlement and he has an explicit duty to mitigate
his loss.
Contract Availability
The service contracts for all Executive Directors of Barclays PLC and the Bank
are held by the Barclays Corporate Secretariat and are available for inspection
during normal business hours at the Group's Head Office: 1 Churchill Place,
London, E14 5HP. Mr Lucas' contract will be available for inspection from April
1, 2007.
Beneficial Interests in Barclays PLC Ordinary Shares
Mr Lucas has no beneficial interests in the ordinary shares of Barclays PLC.
Potential Interest in Shares held in Group Employee Benefit Trusts
In addition, Mr Lucas will, together with the other Executive Directors and
Senior Executives of Barclays PLC, have an interest as potential beneficiaries
in 167,670,318 Shares held by the independent trustees of the Barclays Group
Employee Benefit Trusts. These are discretionary trusts established for the
benefit of Barclays Group employees and former employees (and in each case their
families) all of whom are amongst the potential beneficiaries under these trusts
and are, therefore, regarded for Companies Act purposes as being interested in
the Shares held in them. No consideration is payable by a potential beneficiary
for the acquisition of such an interest under the trusts.
There are no other details that are required to be disclosed in respect of Mr
Lucas' appointment under Paragraph 9.6.13 of the Listing Rules of the UK Listing
Authority.