Mercantile Lisbon Bank Holdings - Board Of Directo
Alistair Laughland
It is with great regret that I have to announce the resignation of Alistair
Laughland for personal reasons.
Most of you don't know the stress under which Alistair has been working over
the last two years. He took over the chief executive's job under complex and
difficult circumstances and almost immediately was faced with the liquidity
crisis in the last quarter 1999. My sense from him is that he personally
would like a complete change and that he believes that the new team would be
better off taking a completely fresh look at the issues.
He will best be remembered for the very significant contribution he made to
the growth of the Registrars business and the strategic thinking which went
in to positioning that business for the advent of STRATE. My own personal
memories of Alistair will be his love of Jags and aeroplanes and the
incredible event of his giving up smoking.
Alistair had this to say:
"It is presently impossible to imagine life without Mercantile. However, I
know inside myself that the time is right to face that seeming
impossibility. I will be the last of the founders of Mercantile to announce
his departure; many of our hopes and aspirations in creating Mercantile have
been achieved, but even more of them remain to be achieved. I am delighted
to be leaving the organisation in the highly capable hands that now comprise
the top management team. Because I played a role in their current positions
and because I remain a significant shareholder in Mercantile, I urge all of
you to give the new team your full support."
I am sure you all wish him well in whatever the future holds and join me in
thanking him for the very significant contribution he made to our
organisation.
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