Complex sentence: After Peel's retirement in 1895, Ponsonby was appointed a CB that year and also took the courtesy title of Viscount Duncannon following his father's accession to the earldom of Bessborough, also in that year.
Split into simpler sentences: After Peel's retirement in 1895, Ponsonby was appointed a Companion of the Order of the Bath (CB). He also took the courtesy title of Viscount Duncannon following his father's accession to the earldom of Bessborough, also in that year.