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Lloyds May Replace CEO With Bischoff or Moreno, Telegraph Says

Lloyds Banking Group Plc may replace Chief Executive Officer Antonio Horta-Osorio with Chairman Win Bischoff or independent director Glen Moreno, the Sunday Telegraph said, without saying where it got the information.

Horta-Osorio would be substituted if he fails to return from medical leave, the newspaper said, adding that a decision could be made within two or three weeks.

Bischoff could become executive chairman, while Moreno would be named chief executive officer, according to the newspaper. Another possible candidate to take over as CEO is independent director David Roberts, the newspaper reported on its website. Any appointment wouldn’t be long term, according to the Telegraph.

Nathan Hatch, a spokesman for Lloyds, declined to comment when contacted by telephone today.

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