Investment trust analysts have said today's news that Katherine Garrett-Cox is to leave Alliance Trust after nine years means the company is "largely unencumbered by legacy issues", but questions remain about its longer-term investment performance and value for shareholders.
It was announced this morning that Katherine Garrett-Cox, currently chief executive at Alliance Trust Investments (ATI), will step down from the company in early March after nearly a decade. Investors took the news in their stride, with the trust's share price up 2.2% by early afternoon trading to 467p. Garrett-Cox's departure coincides with a comprehensive overhaul of the trust, which came under pressure last year following an attack by activist investor Elliott Advisors. This included a radical shake-up of the £2.5bn trust's board, to become "fully independent, comprising solely ...
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