Capital Gearing Trust Plc - Appointment of New Director
PR Newswire
LONDON, United Kingdom, August 12
12 August 2024
Capital Gearing Trust P.l.c.
(the "Company")
Appointment of New Director
The Board of Capital Gearing Trust P.l.c. is pleased to announce the appointment of Karl Sternberg as an independent non-executive Director of the Company, with effect from 5 September 2024.
Mr Sternberg is Chairman of The Monks Investment Trust plc, Clipstone Industrial REIT plc (listed in the Channel Islands), and Apax Global Alpha Limited, and a Non-Executive Director of Jupiter Fund Management plc and Howard de Walden Estates.
Mr Sternberg was a founding Partner of institutional asset manager Oxford Investment Partners, which was acquired by Towers Watson in 2013. Prior to that, he held a number of positions at Morgan Grenfell/Deutsche Asset Management between 1992 and 2004 including Chief Investment Officer for London, Australia, Europe and the Asia Pacific. Since 2006 he has developed his non-executive director career, with a focus on investment management and the investment trust sector in particular. From 2010 to 2015 he was a Non-Executive Director of Friends Life Group plc where he was Chairman of the Investment Oversight Committee. He was Chairman of JPMorgan Income & Growth Investment Trust plc until November 2016 and the Senior Independent Director of Alliance Trust PLC until December 2021. He was a Non-Executive Director of Lowland Investment Company plc until December 2021 and of Herald Investment Trust plc until April 2024.
The Chairman of the Board, Jean Matterson, commented:
"My fellow Directors and I are delighted to welcome Karl Sternberg to the Board. He brings extensive experience and expertise in both investment management and the investment trust sector, which will complement and strengthen the skills and experience of the rest of the Board."
Mr Sternberg has also been appointed to the Company's Audit and Risk Committee, Management Engagement Committee, Remuneration Committee and Nomination Committee with effect from 5 September 2024. He will offer himself for election by the Company's shareholders at the next Annual General Meeting to be held in July 2025.
There is no information to disclose in respect of paragraphs 9.6.13(2) to 9.6.13(6) of the Financial Conduct Authority's Listing Rules.
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Enquiries:
| Katherine Manson | Frostrow Capital LLP, Company Secretary | 020 3709 8734 |
