Directorate Change

RNS Number : 3366R

Templeton Emerging Markets IT PLC

26 June 2015

 

26 June 2015

Templeton Emerging Markets Investment Trust PLC

Board Changes

Templeton Emerging Markets Investment Trust PLC ("TEMIT" or the "Company") announces that Peter Smith, Chairman of TEMIT, has confirmed that he intends to step down from the Board later this calendar year.

The Board also announces the appointment of Paul Manduca as a non-executive Director of the Company with effect from 1 August 2015 who will take over as Chairman of TEMIT at the time Mr. Smith steps down.

The Company will announce in due course the effective date for Mr. Smith to step down as Chairman and Mr. Manduca to take on the role of Chairman once this has been confirmed.

Peter Smith, Chairman of the Company, said:

"After serving on the TEMIT Board for 11 years, eight of which as Chairman, I have made the decision to step down from the Board later this year. I am delighted to announce that Paul Manduca will be taking over from me as Chairman in due course. Paul has a long and successful career in asset management, both as a fund manager and as chief executive of fund management groups, including Threadneedle Asset Management, Rothschild Asset Management and Deutsche Asset Management Europe."

"Paul is currently the Chairman of Prudential plc, one of the world's leading emerging markets-focused financial services groups."

The Company discloses this information pursuant to Listing Rule 9.6.11.R and 9.6.13 R made by the UK Listing Authority. This disclosure is based upon information provided by such Director and has not been independently verified by the Company.

Mr. Manduca has no details to disclose pursuant to Listing Rule 9.6.13 R (2) to Listing Rule 9.6.13 R (6).

Mr. Manduca has held the following directorships in the past five years:

Quoted Company Directorships

Current

·      Prudential plc (Chairman)

·      Henderson Diversified Income Limited (Chairman)

Historic

·      Development Securities plc (NED)

·      JP Morgan European Smaller Companies Trust plc (Chairman)

·      KazMunaiGas Exploration & Production plc (NED)

·      Wm Morrison Supermarkets plc (NED)

For further information:

Franklin Templeton Investments - Stephen Westwood	07533 178381
Templeton Emerging Markets Investment Trust PLC - Peter Smith	0131 242 4165
Winterflood Investment Trusts, Corporate Broker	0203 100 0000
Joe Winkley
Neil Langford

 

END

 

 

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