TD CEO Ed Clark to retire in 2014; Masrani named successor

Wed Apr 3, 2013 7:20am EDT
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TORONTO, April 3 (Reuters) - Toronto-Dominion Bank said on Wednesday that Ed Clark planned to retire as its chief executive officer on Nov. 1, 2014.

The bank, Canada's second-largest, said its board had chosen Bharat Masrani, who is currently group head of U.S. personal and commercial banking, as Clark's successor.

In preparation for the move, Masrani will become chief operating officer on July 1, 2013, the bank said in a statement.

The Toronto-based bank said Clark would remain a board member until TD's 2015 annual meeting.