LONDON (Alliance News) - Aberdeen Diversified Income & Growth Trust PLC announced a board shake-up as part of a general review of the company's future operations.
Under the move, Chairman James Long will oversee the "refreshment" of the board and then step down at its 2020 annual general meeting, though he may leave before then if the board changes are completed early.
The first step of the board changes will see current Non-Executive Directors Ian Russell and Paul Yates leave on October 31 this year. Further, Senior Independent Director Kevin Ingram will leave either at or before the 2019 AGM.
Aberdeen Diversified believes five directors is the best number for its board. With seven currently in position and with three set to leave, it will make another appointment soon to bring the total back up to five.
Long is a former finance director at Inchcape PLC, while Russell is the former chief executive of Scottish Power PLC.
Shares were 0.7% lower Tuesday at 124.14 pence each.
Abrdn Di&g (ADIG)