Barclays Chairman Sets Goal to Double Stock Price in Meeting
(Bloomberg) -- Barclays Plc Chairman John McFarlane says the lender needs more revenue growth, more productivity, less bureaucracy and more personal accountability.
John McFarlane, having just fired Chief Executive Officer Antony Jenkins, addressed Barclays Plc staff for the first time on Wednesday afternoon, laying out some of his plans to increase revenue and double the stock price.
In off-the-cuff remarks at the townhall-style presentation in London, McFarlane, 68, said that he aims to double the share price over the next three years, or four years maximum, according to three people attending the meeting, who asked not to be identified because the content was private. A new CEO may not be named until spring next year, he said, when addressing a series of impromptu questions, they said.