(Alliance News) - European Investment Trust PLC confirmed that Sue Inglis stepped down on Friday after just a year as a non-executive director, while the company's longest-serving director Michael Moule will stay another year.
It also said it will appoint at least one new director in 2020. Inglis, a former corporate financier at Cantor Fitzgerald, joined the European Investment Trust board only in January.
The board moves come as European Investment Trust is set to change investment manager to Baillie Gifford & Co Ltd from Edinburgh Partners and change its name as a result to Baillie Gifford European Growth Trust PLC.
"Given the move to Baillie Gifford and consequent loss of Sue Inglis the board feels it would be beneficial to retain [Moule's] expertise for one further year so that the board is not rushed into finding immediate replacements," Chair Michael MacPhee explained.
European Investment Trust shares closed Friday in London up 0.9% at 866.00 pence.
By Tom Waite; thomaslwaite@alliancenews.com
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