Alliance Trust PLC Alliance Trust Plc : Directorate Change

 
TIDMATST 
 
 
   Alliance Trust PLC 
 
   27 November 2015 
 
   Directorate Change 
 
   Alliance Trust PLC (the "Trust") today announces that Karin Forseke, 
Chair, will step down from the Board of the Trust on 1 January 2016. 
 
   The Trust announced on 1 October 2015 that it would implement a number 
of significant changes intended to position the Company better to 
deliver consistent outperformance in a cost-effective manner. As part of 
these changes, the Company is reorganising its governance structure to 
create a wholly independent Board and Karin believes that, as this 
process nears completion, it is the appropriate time for her to step 
down. 
 
   Gregor Stewart, who has been a Non-Executive Director of Alliance Trust 
PLC since December 2014, will assume the role of interim Chair. 
 
   As the Board has started the process of appointing a new Chair, Alastair 
Kerr, Senior Independent Director (SID), will now stand down from the 
Board on 1 January 2016. Karl Sternberg will then assume the role of 
Senior Independent Director from 1 January 2016 and will lead the search 
for an external candidate to take up the position of Chair of the Trust. 
 
   Karin Forseke commented: 
 
   "We are making good progress implementing the changes announced in 
October to accelerate our long-term strategy and we expect the new 
governance structure to be in place in early 2016. Alongside the new 
non-executive only board of the Trust, excellent independent boards will 
be in place to oversee the development of Alliance Trust Investments and 
Alliance Trust Savings.  As these changes are implemented, the Chair of 
the Trust's role will change and as a result I believe now is the right 
time for me to move on. 
 
   I feel privileged to have served this exceptional company over the past 
four years. The Trust's focus on customers and commitment to 
sustainability in all parts of its business permeates the whole 
organisation and is at the heart of its strong values and culture. I 
also want to thank all our stakeholders for their support over the past 
four years and, in particular, the executive and employees of Alliance 
Trust who demonstrate the Trust's values on a daily basis through their 
commitment and determination." 
 
   Alastair Kerr commented: 
 
   "We have set out the strategy for Alliance Trust and I am confident that 
the new structure will allow it to flourish. I had planned to stand down 
in May 2016, but I feel that the new team should be responsible for 
identifying Karin's successor, and standing down at this time will 
ensure a smooth transition. 
 
   I would like to thank Karin for her hard work and dedication during her 
time as Chair. While it has been a challenging period, the Trust has 
generated a total shareholder return of 51%, well ahead of the MSCI All 
Country World Index total return of 43.4%. The Trust has undergone 
significant change under her leadership and is well-placed to continue 
to deliver returns for all its shareholders." 
 
   Enquiries 
 
   Evan Bruce-Gardyne 
 
   Head of Investor Relations, 
 
   Alliance Trust PLC 
 
   Tel: [phone] 
 
   Email: [e-mail] 
 
   Web: www.alliancetrust.co.uk 
 
   Conor McClafferty / Michael Turner 
 
   Finsbury 
 
   Tel: [phone] 
 
   Email: [e-mail] 
 
   Web: www.finsbury.com 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Alliance Trust PLC via Globenewswire 
 
   HUG#1969722 
 
 
  http://www.alliancetrusts.com 
 

(END) Dow Jones Newswires

November 27, 2015 02:00 ET (07:00 GMT)

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