In Brief: Royal Bank of Canada CEO to Retire in July

February 26, 2001, 2:00 a.m. EST 1 Min Read

VANCOUVER John E. Cleghorn, Royal Bank of Canadas chairman and chief executive officer, announced plans to retire Friday and will be succeeded by Gordon Nixon, deputy chairman and CEO of the banks dominion securities division.

Mr. Cleghorn, 60, said he will end his 15-year tenure, first as president and then as chairman and chief executive of the financial company, on July 31.

Mr. Nixon is to succeed Mr. Cleghorn as president and chief operating officer of the financial group and as a director on April 1, and as president and chief executive officer on Aug. 1.

Also effective Aug. 1, Guy Saint-Pierre, currently chairman of the corporate governance committee of the board of Royal Bank and a lead director, will become nonexecutive chairman of the bank.

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