Barclays PLC and Barclays Bank PLC announced that Tushar Morzaria has decided to retire as group finance director and as an executive director of Barclays PLC and Barclays Bank PLC, in each case with effect from April 22, 2022. Tushar will be succeeded by Anna Cross, currently deputy group finance director, will take up the role of group finance director subject to regulatory approval, and join the boards of Barclays PLC and Barclays Bank PLC as an executive director, in each case with effect from April 23, 2022. Anna will also join the group executive committee, reporting to group chief executive C.S. Venkatakrishnan.

Tushar will provide continued support to Venkat as an adviser to the group chief executive, and will help ensure a smooth transition to Anna, as well as supporting the group's business with financial institutions as chairman of global financial institutions group in the investment bank. The Barclays PLC Board Remuneration Committee (the "Committee") has determined that the following arrangements will apply to Tushar on stepping down from his Executive Director role. Given he is stepping down as an Executive Director, the previously agreed 2022-2024.