Walker review sparks resignations from Lloyds board

The resignations of two non-executive directors (Neds) from Lloyds Banking Group could mark the start of an exodus of non-execs from boardrooms following the Walker review, say experts. The review in July set out a minimum time requirement, stating that Neds should commit 30 to 36 days a year to board duty. This is significantly more than some Neds spend on their roles and, this week, two Neds on the LBG board resigned, citing Walker’s increased time requirements as the reason.