BANKING

Jan 26 2009 by Graeme King, The Journal

RBS purge planned

THE Royal Bank of Scotland is said to be preparing a boardroom clearout to purge the company of directors linked with the reign of Sir Fred Goodwin, its former chief executive.

Former civil servants Sir Steve Robson and Jim Currie, as well as BP chairman Peter Sutherland are all thought to be on the verge of stepping down. Others may also depart once replacement candidates are found.

The Government, which owns 70% of the bank, has made it clear it wants to see change at the head of the company. Stephen Hester, who replaced Goodwin as chief executive, has already identified the senior staff who will have to leave and those who will be promoted.

RETAIL

Hitting the road

ONE of Britain’s biggest motorway services groups, Roadchef, could be sold by its Israeli owner after it reportedly hired advisers to find an outside investor for the business.

An information memorandum has already been distributed to potential acquirers and expressions of interest in RoadChef are expected to be tabled this week, a report said yesterday.

RoadChef changed hands less than two years ago. It has 27 motorway service stations, featuring Premier Travel Inn, Costa Coffee and the Wimpy burger chain.