Complex sentence: He was appointed CBE in 1970 and was knighted in 1972 when he retired from the bank but continued to hold a number of non-executive positions in other organisations for some years afterwards.
Split into simpler sentences: He was appointed CBE in 1970 and was knighted in 1972 when he retired from the bank. He continued to hold a number of non-executive positions in other organisations for some years afterwards.