Appointment of Michael Gerrard

RNS Number : 7438Z

International Public Partnership Ld

04 September 2018

 

APPOINTMENT OF MICHAEL GERRARD AS INDEPENDENT NON-EXECUTIVE DIRECTOR AND PROSPECTIVE CHAIRMAN

4 September 2018

International Public Partnerships, the listed infrastructure investment company ('the Company', 'INPP'), is pleased to announce the appointment of Mr. Michael Gerrard as an independent non-executive director. It is anticipated that Mr. Gerrard will become Chairman following Mr. Rupert Dorey's planned retirement from the Board of Directors (the 'Board') on 31 December 2018. 

Mr. Gerrard's appointment follows a rigorous, externally-facilitated selection process managed by the Board's independent non-executive directors. Mr. Gerrard brings over 30 years of technical and financial experience in global infrastructure investment.

Mr. Rupert Dorey, Chairman of International Public Partnerships, said: "Mike is a highly experienced and respected figure within the infrastructure industry. He has worked on some of the most significant infrastructure projects and programmes delivered in the UK and globally over the last thirty years. These include the introduction of private finance into the UK's energy, social infrastructure, environmental and transport sectors. Much of his work has been at the boundary between the private and public sectors, where value is created for both investors and the users of infrastructure assets. We welcome Mike to the Board and as my successor as Chairman at the end of the year."

Mr. Michael Gerrard, new independent non-executive director said: "I am delighted to be joining the board of INPP. The Company has an impressive track record in the origination and stewardship of high-quality infrastructure investments. It embraces the principles and practices that underpin successful long-term working relationships between private capital and public services. The Company's ethos aligns closely with my own experience and approach to working in partnership with the investors, governments and communities which we serve. I look forward to helping the business continue to thrive."

In addition, the Board notes that Mr. John Le Poidevin, who has been a director of the Company since 2016 is appointed as Chairman of the Audit and Risk Committee with effect from 1 July 2018.  Mr. Poidevin is a qualified accountant and a former partner of BDO LLP. He assumes this role from Mr. John Whittle, who has served in the position for the past four years. Mr. Whittle will remain the Senior Independent Director of the Board.

In accordance with Listing Rule 9.6.13, Mr Gerrard has advised the Company that he is not currently a director of any publically quoted company, nor has he held any such position within the last five years.

ENDS.

Notes to Editors:

Mike Gerrard has spent most of his career in the development, delivery and management of infrastructure investments.  Currently, he is chair of the programme coordination board for the expansion of Heathrow airport and a member of the investment committee for two unlisted infrastructure funds managed by Impax Asset Management Limited.  He also currently leads an independent affordability review of Crossrail 2 for the Government and Greater London Authority.

He has held senior positions in infrastructure finance for Canadian Utilities Limited working on investments in the UK and South Asia; and later led a major financing in Middle East.  He was a director of HM Treasury Taskforce and deputy CEO and later CEO of Partnerships UK plc.

He led the Thames Tideway Tunnel project for Thames Water Utilities Limited as a managing director. 

He originally trained in engineering with BP and in investment banking with Morgan Grenfell. His qualifications include an MBA from the London Business School and a fellowship of the Institution of Civil Engineers.

For further information:

Erica Sibree

[phone]

Amber Fund Management Limited

Hugh Jonathan

[phone]/1275

Numis Securities

Ed Berry/Mitch Barltrop

[phone]/1039

FTI Consulting

About International Public Partnerships (INPP):

International Public Partnerships ('INPP') is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships ('PPP'), private finance initiative ('PFI'), regulated asset and other similar procurement methods.

Listed in 2006, INPP is a long-term investor in 129 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the UK, Europe, Australia and North America. INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases typically of 25-40 year concessions.

Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists over 100 dedicated staff who manage, advise on and originate investments for INPP.

Visit the INPP website at www.internationalpublicpartnerships.com for more information.

 

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