Directors and their interests

The Directors who served throughout the year were as follows: Gerry Grimstone (Chairman), Kent Atkinson, Lord Blackwell, Sandy Crombie (Group Chief Executive), Crawford Gillies, Trevor Matthews, David Nish, Jocelyn Proteau, Keith Skeoch and Hugh Stevenson (Senior Independent Director), who were appointed Directors of the Company on 30 March 2006 (25 May 2006 in the case of Keith Skeoch, 1 November 2006 in the case of David Nish, and 1 January 2007 in the case of Crawford Gillies). Baroness McDonagh was appointed on 1 March 2007. They were all elected or re-elected at the 2007 AGM.

John Hylands retired as a Director on 31 March 2007, and Sir Brian Stewart and Alison Mitchell retired as Directors at the conclusion of the 2007 AGM on 29 May 2007. Gerry Grimstone succeeded Sir Brian Stewart as Chairman of the Company at the conclusion of the 2007 AGM. Colin Buchan was appointed on 1 January 2008. Trevor Matthews resigned as a Director on 29 January 2008.

Colin Buchan will retire and offer himself for election at the 2008 AGM. Lord Blackwell and Keith Skeoch will retire by rotation and, being eligible, will offer themselves for re-election at the 2008 AGM. Hugh Stevenson will retire as Director, and Senior Independent Director, at the conclusion of the 2008 AGM, and will not offer himself for re-election. Following Hugh Stevenson's retirement, Lord Blackwell, if re-elected, will be appointed Senior Independent Director.

Biographical details of the current Directors of the Company are shown on the Board of Directors page.

The interests of the Directors in the Company's ordinary shares, the employee share plan and the share-based executive long-term incentive plans, are set out in the Directors' remuneration report, together with details of the executive Directors' service contracts and non-executive Directors' appointment letters.

During the year, no Director had any interest in the Company's listed debt securities or in any shares, debentures or loan stocks of the Company's subsidiaries, or any material interest in any contract with the Company or a subsidiary undertaking, being a contract of significance in relation to the Company's business, other than the benefit of a third-party indemnity provided by the Company (in accordance with company law and the Company's articles of association) and service contracts between each executive Director and subsidiary undertakings. Copies of these documents are available for inspection at the Company's registered office during normal business hours and will be available for inspection at the Company's 2008 AGM.

The Company maintains directors' and officers' liability insurance on behalf of its Directors and officers.

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