Sir Jackie Stewart Agrees Contract Amendment with RBS Group

Sir Jackie Stewart Agrees Contract Amendment with RBS Group
6 March 2009

In recognition of the changed financial and economic circumstances facing RBS, Sir Jackie Stewart has been in discussion with the Group over a period of weeks about the remaining terms of his contract. As a result of these, Sir Jackie has offered to fulfil his contractual obligations in 2009 without payment, which RBS is very pleased to accept.

Sir Jackie wants to help the Bank with its new strategic objective of rebuilding standalone strength by serving its customers well, in the UK and globally, in the next three years.

Andrew McLaughlin, Head of Communications at RBS commented:

“This is a tremendous gesture by Sir Jackie. He has worked tirelessly and with great success for the Group over a number of years. His commitment and loyalty at such a challenging time in the company’s long history is greatly appreciated by everyone at RBS. Having his energy and talent focussed on our customers, charity partners and communities in the coming period will be our shared priority”.

For further information contact: RBS Group Media Centre +44 131 626 5659

Notes to Editors

Sir Jackie Stewart’s contract with RBS runs until 2011, he has been working with RBS since 2004. As a result of this new agreement he will effectively provide 3 years service to the Group for the price of two years.
The financial arrangements within the contract are commercially confidential.
Sir Jackie Stewart’s work with RBS supports every business division of the Group. This has involved a range of activities including the creation of new business, servicing of existing business and customer relationships, charity partner and community work as well as hospitality and sponsorship events.

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