Royal Bank of Canada (RBC) has said that that David O’Brien plans to retire as chairman of the Board, effective 31 December 2013.
Kathleen Taylor, who has been an independent director since 2001, will become the new chairman replacing O’Brien.
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O’Brien will stay on as a director until the annual meeting of shareholders in Toronto on February 26, 2014, as part of an orderly board succession.
O’Brien has served as non-executive chairman since 2004 and as an independent director since 1996.
Taylor has served on the Audit, Risk and Human Resources Committees during her tenure on the RBC board, and has been chair of the Human Resources Committee since 2010.
Taylor is the former president and CEO of Four Seasons Hotels and Resorts where she served in a variety of progressively senior leadership roles during her over 20-year career.
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By GlobalData"David’s exemplary leadership guided the board in its stewardship of RBC through a period of significant financial services industry reform and global growth for the bank," said Taylor.
