Northern Rock - Board of Directors

Board of Directors

Prior to the credit crisis the company had focused on developing its own staff and most appointments including the Chief Executive, were made internally.

At the time of the 2007 financial crisis Matt Ridley was the Chairman and Adam Applegarth was the Chief Executive. Ridley resigned in October 2007 and Applegarth resigned in November 2007, although the latter stayed on in a caretaker role until December 2007. The Chief Executive was Andy Kuipers, who joined the company in 1987, and retired on 31 August 2008.

In February 2008, Ron Sandler was appointed Executive Chairman by the government. Gary Hoffman became Chief Executive of Northern Rock in October 2008. With the appointment of Gary Hoffman, Ron Sandler changed to a Non-Executive Chairman position.

Since the split of the bank into Northern Rock plc and Northern Rock (Asset Management) plc on 1 January 2010, each company had its boards of directors. On 4 November 2010 Northern Rock announced that Gary Hoffman had left the bank and was to move to NBNK Investments as CEO. One of the stipulations of Hoffman's appointment at NBNK was that they could not table a bid for Northern Rock for a period of 12 months.

Prior to being bought by Virgin the board of Northern Rock plc at 8 April 2010 was:

• Chairman: Ron Sandler
• Chief Executive: Gary Hoffman
• Chief Financial Officer: Jim McConville
• Executive Directors: Rick Hunkin
• Non-Executive Directors: Laurie Adams, Richard Coates, Mike Fairey, Mark Pain, Mary Phibbs