Changes at the Helm of BlackRock New Energy

CEF DIRECTOR MOVES: The long-standing chairman of BlackRock New Energy retires; Genesis Emerging Markets is joined by a leading Chinese economist; and more

Jackie Beard, FCSI, 21 February, 2011 | 10:36AM
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Director Changes: February 14-18
Ewen Macpherson has retired as a director and chairman of BlackRock New Energy (BRNE). He had served on the board since the fund’s launch in 2000. Dr John Roberts takes up the role of chairman; he joined the board in June 2007 and brings extensive experience in utility companies. Mark O’Hare has also joined as a non-executive director; he holds the same role at Invesco Perpetual UK Smaller Companies (IPU), where he has been a board member since 1997. BlackRock New Energy had a very stable board for the first 10 years of life, but there have been a number of changes in the last two years. The average time served on the board now stands at three years, although this is skewed by John Murray’s tenure, which dates back to the fund’s launch.

Professor Geng Xiao has joined the board of Genesis Emerging Markets (GSS) as an executive director. This is his first such position with a listed company. His career to date includes tenures at the Shenzen Development Bank and Chinese Economists Society.

Ms Davina Curling has been appointed as a non-executive director of Invesco Income Growth (IVI). Ms Curling was formerly a European equity fund manager at F&C, who left the group at the end of 2007.

Thomas Lindeborg has resigned from the board of NR Nordic & Russia Properties (NRP). This follows the company’s announcement that it has signed agreements to sell substantially all of its remaining assets, to Mr Lindeborg and to Kungsleden AB. Thus he can no longer be considered an independent member of the board.

There is a new chairman of the board at Orchid Developments (OCH). Joseph Drescher has taken up this role, having been a board member since 2010. Previous chairman David Holland stepped down at the end of 2010 after five and a half years.

Dipankar Basu has resigned as a non-executive director of Origo Partners (OPP). He served on the board since December 2006. This ends his connection with any listed companies.

Director Buying
Aberdeen New Thai (ANW) – James Robinson
Blue Planet Euro Financials (BLP) – Dean Bucknell
China Private Equity Investments (CPEH) – Chau Vinh Heng
Eredene Capital (ERE) – Alastair King, Gary Varley, Nikhil Naik
Fidelity Asian Values (FAS) – Kathryn Matthews
Framlington AIM VCT (FAME) – Chris Kay
Henderson Far East Income (HFEL) – John Russell
JPMorgan Chinese (JMC) – Kathryn Matthews
JPMorgan Overseas (JMO) – Jonathan Carey
M&G Equity Package Unit (MEQU) – Alan Kaye
Marwyn Value Investors (MVI) – Eitan Milgram
Maven Income & Growth VCT 2 (MIG2) – William Nixon
Montanaro UK Smaller Companies (MTU) – Kathryn Matthews
Murray International (MYI) – Alfred Shedden
Scottish American (SCAM) – Rachel Lomax
Scottish Investment Trust (SCIN) – John Kennedy
Securities Trust of Scotland (STS) – Neil Donaldson
Treveria (TRV) – Eitan Milgram
Witan (WTAN) – Rory McGrath

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