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Why is Lloyds bank looking for a successor to Eric Daniels?

In a rather bizarre announcement it has been revealed that Lloyds bank has hired a firm of headhunters to draw-up a short list of potential successors to chief executive Eric Daniels, despite there being no plans for him to leave his position. Even though the bank has suggested this is simply a contingency plan for the future there are concerns that the management at Lloyds bank is fragmented and we could see Eric Daniels fall by the wayside in the short term.

While many people believe that Eric Daniels position at Lloyds bank is as solid today as it ever has been, with a suggestion that he would have been sacked last year if he was to leave the role, it does not bode well for the future to find out that your board of directors have drawn up a shortlist for your successor. Those who have followed the UK banking sector will be well aware that Eric Daniels recently forecast that Lloyds bank would move into profit this year, although this particular boast is perhaps not as strong as it seems upon further investigation.

Or is it Eric Daniels who has one eye on the emergency exit?

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