(Alliance News) - Hipgnosis Songs Fund Ltd on Tuesday said it has hired Intuitive Investments PLC Chief Executive Officer Robert Naylor as chair, with immediate effect.
Hipgnosis Songs Fund is a London-based based music intellectual property rights investor, which owns the rights to songs by artists such as Ed Sheeran and Dua Lipa.
Naylor will also serve as non-executive director, alongside Francis Keeling, whose appointment was also announced on Tuesday.
Both served as non-executive directors at private equity fund, Round Hill Music Royalty Fund Ltd, until its recent sale to Alchemy Copyrights LLC last week.
Naylor's appointment as chair comes after Andrew Sutch announced he would step down and retire as director in September.
Commenting on his appointment, Naylor said: "I'm excited to be joining Hipgnosis Songs Fund. I look forward to working with the board and shareholders as we conduct the strategic review and put forward proposals for the future of the company."
Sneior Independent Director Sylvia Coleman added: "On behalf of the board, we are delighted that Robert and Francis have agreed to join Hipgnosis Songs Fund. Robert and Francis's appointments follow extensive engagement with shareholders, and their experience and knowledge working with investment companies, most notably at Round Hill Music Fund, will be invaluable to Hipgnosis as we look ahead to the next chapter."
Shares in Hipgnosis grew 1.2% to 71.94 pence each in London on Tuesday morning.
By Sabrina Penty, Alliance News reporter
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Hipgnosis Song. (SONG)
