Marcus Agius, the former chairman of Barclays bank who resigned on Monday, has been dramatically appointed to the role of full-time executive chairman after just one day.
The banker quit his post on Monday in the wake of the Libor rate-fixing scandal, saying “the buck stops with me”.
However, Agius sensationally "unresigned" on Tuesday, returning to the bank in an improved position after just 24 hours following the resignation of CEO Bob Diamond, once described as the "unacceptable face of banking", from his £6m-a-year job.
On Monday, Agius, who was chairman for six years, said: "This has been a period of unprecedented stress and turmoil for the banking industry in particular and for the wider world economy in general."
He acknowledged that standards of behaviour at Barclays had been unacceptable and that the affair had dealt a devastating blow to the bank's reputation, saying he was “truly sorry" and the "ultimate guardian of the bank's reputation."
Yet on Tuesday, the beleaguered bank made a dramatic U-turn, appointing Aegis as the full-time executive chairman "pending the appointment of a new Chief Executive".
News of the chairman's return sparked a comedic storm on Twitter, with thousands of comments mocking the turmoil at the bank and the bizarre "unresignation" of Agius.
Monday's resignation came after signs of shareholder moves to replace him from the role.
Agius is due to face MPs on the Treasury Select Committee on Thursday - a hearing that is expected to go ahead irrespective of his decision to quit on Monday... and his dramatic reappointment on Tuesday.
Twitter reacts to the "unresignation" of Marcus Agius
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