Directorate Change

RNS Number : 0667I

Scottish American Investment Co PLC

21 November 2018

 

The Scottish American Investment Company P.L.C.

Legal Entity Identifier: 549300NF03XVC5IFB447

Regulated Information Classification: Additional regulated information required to be disclosed under the laws of a Member State of the EU.

Board changes

The Company announces the following Board changes, which will take effect over the coming months.

Lord Kerr of Kinlochard, GCMG

The Company announces that Lord Kerr of Kinlochard has formally intimated that he will be retiring from the Board at the Company's annual general meeting to be held in April 2019 and so will not be offering himself for re-election at that meeting.  Lord Kerr joined the Board in 2002 and was appointed Senior Independent Director in 2012.

Dame Mariot Leslie

The Company is pleased to announce the appointment of Dame Mariot Leslie as a non-executive director of the Company, with effect from 1 January 2019.  Mariot enjoyed a long and distinguished career in the British Diplomatic Service from 1977 until her retirement in 2014. From 2002-06 she was the British Ambassador to Norway and she was UK Permanent Representative to NATO between 2010 and 2014.

The appointment of Dame Mariot falls to be ratified by Shareholders at the Annual General Meeting of the Company to be held in April 2019.

Karyn Lamont

The Company is also pleased to announce the intention to propose to Shareholders the election of Karyn Lamont as a non-executive director of the Company at the Annual General Meeting of the Company to be held in April 2019. A chartered accountant and former audit partner at PricewaterhouseCoopers, she has over 25 years of experience and provided audit and other services to a range of clients across the UK's financial services sector, including a number of investment trusts. She is the Audit Committee Chairman of The Scottish Investment Trust plc and of The North American Income Trust plc and also fulfils that role at the Scottish Building Society.

Peter Moon, Chairman, commented: "The Board, and I personally, would like to thank Lord Kerr for his considerable contribution to the Board over many years.   His commitment to the Company has been unwavering and his insight has proved to be invaluable. We are delighted that Mariot and Karyn have agreed to join the Board and are confident that their knowledge and abilities will be of great benefit to SAINTS in the years ahead."

There is no other information in respect of either Dame Mariot Leslie or Karyn Lamont required to be disclosed under section 9.6.13 of the Listing Rules.

 Baillie Gifford & Co Limited

Managers and Secretaries

21 November 2018

 

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