Lloyds Banking Group chief executive, António Horta-Osório, is to return from his leave of absence on medical advice on 9 January 2012.
Its board says it has completed a rigorous process, including obtaining independent medical advice, to assess António’s ability to return and effectively lead the Group. The independent medical advice has concluded that he has made a full recovery.
As part of the process the board has agreed to restructure and reduce his direct reporting lines in order to strengthen the accountabilities of his senior management team.
Sir Win Bischoff, chairman of Lloyds Banking Group, said: “The board and I are pleased that António has made a full recovery. We are looking forward to his return after the New Year to continue to lead the group and build on the strong progress he has already made in transforming the business and delivering the strategic plan.