Source AP ©

Chief executive and directors leave Northern Rock

Northern Rock's chief executive and directors resigned.

The chief executive, Adam Applegarth, resigned along with board directors David Baker, Keith Currie and Andy Kuipers, the bank said. Applegarth will continue as a board director and as chief executive through the second phase of a strategic review of the company's options, expected to be completed by the end of January, according to a statement. The three directors will step down from the board but remain officers of the company.