Scottish Mortgage’s chair Fiona McBain is set to exit after 14 years amid a series of changes to the composition of the £13.1bn investment trust’s board, including the official departure of rebel director Amar Bhidé.
In a London Stock Exchange notice today (21 March), the trust said that Justin Dowley, a current senior independent director will succeed McBain as chair with effect from the 2023 AGM, subject to his re-election. Director Bhidé, who questioned McBain's independence and raised concerns over governance issues and the trust's capabilities to invest in unlisted companies during an interview with the Financial Times last week, has officially left the board. Scottish Mortgage board clashes over governance and unlisted issues Speaking to the FT, he said: "I have been very concerned abo...
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