Alliance Trust CEO Garrett-Cox to Leave, Board Promises Continuity

The Board of Alliance Trust Plc announced yesterday that it was agreed that Katherine Garrett-Cox, the CEO of Alliance Trust Investments, is to leave the firm on March 11

David Holder 16 February, 2016 | 3:35PM

The board of Alliance Trust Plc has announced that, following discussions between themselves and the board of Alliance Trust Investments, the asset management arm of the business, Katherine Garrett-Cox will be leaving the firm on March 11 2016 after nine years at the company. Morningstar Analysts are retaining the Neutral rating held by Alliance Trust Investment Trust (ATST).

Katherine Garrett-Cox Departs

The Board of Alliance Trust Plc announced yesterday that, after discussions between themselves and the board of Alliance Trust Investments, it was agreed that Katherine Garrett-Cox, the CEO of Alliance Trust Investments, is to leave the firm on March 11. This development is not entirely surprising and comes on the back of sustained efforts by US activist investor Elliott Associates to prompt the board of Alliance Trust Plc to undertake a thorough review of the investment trust's management.

In October last year, a restructuring of the Plc Board saw Garrett-Cox relinquish her title of CEO of the investment trust, as well as her seat on the board. At that time, she became CEO of Alliance Trust Investments, the asset management division and appointed manager of the investment trust's assets.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Alliance Trust Ord875.00 GBX-0.11

About Author

David Holder  is a senior investment research analyst at Morningstar

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