Ex-HBOS director quits Resolution after investors voice concern

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...