Ex-HBOS director quits Resolution after investors voice concern

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Phil Hodkinson, the former finance director of HBOS, has bowed to pressure and resigned as senior independent director of Resolution, the life assurance group .

Resolution said Hodkinson had informed the group that he wished to retire with effect from the annual meeting on May 16, the Times reports. The departure is a U-turn for Hodkinson, who had been due to stand for re-election to the board at the meeting. He was paid £128,000 last year for the part-time role. Shareholders and politicians had expressed concern about Hodkinson having such an important role in a financial business after his record at HBOS. The departure switches the focus to Mike Ellis, another former HBOS finance chief, whose role as chairman of the Skipton Building Soci...

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