Life begins a bit before 40

The surprise resignation of a chief executive usually sets alarm bells ringing – especially when the company is a big bank. But James Crosby’s departure from HBOS should attract plaudits. This is a rare case of succession planning being well executed. Crosby had already lost one of his potential heirs, Mark Tucker, the former finance director, to Prudential. The risk was that Andy Hornby, the other director capable of succeeding Crosby, might quit too. Hornby is a hot property and was likely to...