The troubled Co-operative Bank has appointed an IT expert to its board as an independent, non-executive director.
Bill Thomas, previously senior vice-president of HP Enterprise Services and corporate officer and executive vice-president of EDS, has a track record of leading major change in large organisations, the bank said in a statement.
The Co-operative Bank had to recently scrap plans to implement a new banking platform, which resulted in the company writing off £148.4 million in IT costs.
Richard Pym, chair of the Co-operative Bank board, said: “The Co-operative Bank has a poor track record of successful IT investment and Bill’s experience from working in major global IT businesses will be of enormous help to the board in supervising our IT investment programme.”
At present, Thomas is also an independent non-executive director at XChanging, GFI Software and Balfour Beatty.
Thomas’s appointment is effective from today.
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