LONDON (Alliance News) - Electra Private Equity PLC on Monday said Kate Barker and Francesca Barnes have both stepped down from its board with immediate effect.
Barker joined the board of the private-equity investment firm in 2010 and was chairman of its remuneration and nomination committee and senior independent director. She had been interim chair of the group until May, when Neil Johnson took over.
Barnes, meanwhile, joined the board in March 2013 and was the chairman of the valuations committee.
Electra said it has started the search for two new directors to replace Barker and Barnes, including one to become senior independent director.
The changes to the board follow the news in late May that Edward Bramson, the activist investor who had called for change at Electra, had been named unpaid interim chief executive, and that the group had served notice to Electra Partners LLP, its in-house investment manager.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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