Lord Powell quits key Jardines posts

Lord Powell of Bayswater, former adviser to former British prime ministers Margaret Thatcher and John Major, has resigned almost all his directorships at the Jardines group.

His resignations, which come eight years after he joined the Jardine Matheson board, take effect at the end of the year - a few months before his planned retirement date - according to a statement yesterday. He will remain on the boards of the group's British-based subsidiary, Matheson & Co, and hotel operator Mandarin Oriental International, and serve as a consultant to Jardines on international affairs.

The statement said the move would enable him to pursue a wide range of other interests, including further international directorships.

He is also on the boards of British-based Arjo Wiggins Appleton, British Mediterranean Airways and French luxury goods group LVMH Moet Hennessy Louis Vuitton. He is president of the China-Britain Business Council.

A Jardines spokesman said there were no immediate plans to replace him.

Lord Powell has been a trusted adviser to the controlling Keswick family in recent years, acting as a crucial diplomatic link to Beijing during periods of difficulty in the relationship between Jardines and mainland officials.