3i Group Share News (III)

Lord Smith of Kelvin is retiring as a non-executive director at 3i to focus on his role as chairman of the 2014 Commonwealth Games Organising Committee.The chairman of Scottish & Southern Energy and Weir Group will leave the private equity firm at the end of this month and be replaced as chairman of the remuneration committee by John Allan.Smith joined the Industrial and Commercial Finance Corporation (ICFC), which later became 3i, in 1968 after qualifying as a chartered accountant. He spent 14 years there before joining Royal Bank of Scotland."Robert has made an outstanding contribution to the board over many years and has been a marvellous colleague providing the perfect balance of challenge and support," said 3i chairman Baroness Hogg.Commonwealth Games Federation chief Michael Fennell yesterday raised concerns about the 2010 competition in Delhi.Building work is apparently behind schedule and there are worries over security, transport and accommodation. The 2014 competition will be held in Glasgow.