Impax Environmental Markets PLC - London-based investment trust - Hires Glen Suarez with the expectation that he will succeed John Scott as chair in May next year, when Scott retires from the board. Suarez will join the board as an independent non-executive director on October 1.
Suarez is currently the executive chair at the American privately owned investment management firm Knight Vinke Asset Management. Previously, he was the chair at Edinburgh Investment Trust PLC, which invests primarily in UK securities, until July. Before this, he was the head of European energy, infrastructure and utilities investment banking business at Morgan Stanley for eight years.
Last month, Impax Environmental reported a decline of 17% in net asset value for the six months to June 30, standing at 410.9 pence per share compared to 495.4 pence at the end of 2021.
Current stock price: 425.00 pence
12-month change: down 19%
By Xindi Wei; xindiwei@alliancenews.com
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Impax Asset Management (IEM)
Edinburgh Investment Trust PLC (EDIN)