Rory Cullinan, Executive Chairman of its Corporate and Institutional Bank, will leave the company on April 30, 2015, apparently in a fallout over the strategy of reforming the 'bad bank' side of the business, which was rescued by UK taxpayers following the global credit crash.
However, insiders say Cullinan was not taking his role seriously, a charge borne out by newspaper revelations that he posted selfies of him to his daughter when he was in meetings saying he was bored.
So many bank CEOs to be fired for so many reasons and all I get is one scalp for stupid, kinda funny SnapChats: http://t.co/IzDvgwhaQ4
— Jesse Eisinger (@eisingerj) March 31, 2015
Cullinan used Snapchat to post photos featuring captions such as "Not a fan of board meetings xx", "Boring meeting xx" and "Another friggin meeting" in messages intended for his daughter.
The pictures were posted on Instagram in 2014 by his daughter, but were only revealed in the UK Sun newspaper in March 2015. She wrote: "Happy Father's Day to the indisputable king of Snapchat."
Undone by a #teen: RBS chairman loses job after his daughter posts his snaps to Instagram. http://t.co/iFVDfRPIZX pic.twitter.com/GTcxzRSa86
— Kevin Roose (@kevinroose) March 31, 2015
Ross McEwan, RBS CEO said:
"We would like to express our thanks to Rory for his very significant contribution to the rebuild of RBS over the past 6 years."
"He has built and led APS, Non-Core, RCR and recently completed the very successful follow-on sale of Citizens post its IPO last year. We wish him every success in the future."
Cullinan said: "I am pleased and proud to have played a significant part in restoring RBS to a safe and sound agenda over the past 6 years. I wish all my colleagues continued success."
