Multiple Chairman Departures in CEFs Last Week

CEF DIRECTOR MOVES: Aberdeen Smaller Companies High Income's chairman Henry Cathcart has retired; John de Havilland has resigned as chairman of Ruffer Investments; and more

Jackie Beard, FCSI, 18 April, 2011 | 10:56AM
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Director Changes: April 11-15
Henry Cathcart has retired as a director and chairman of Aberdeen Smaller Companies High Income Trust (ASCH) (formerly known as Shires Smaller Companies). He has served on the board since 1995 and as chairman since 2003. Carolan Dobson has been appointed chairman – she has been a director since 2004 and is also on the board of JPMorgan European Smaller Companies. The board of ASCH comprises just four members now and the average tenure is 6.75 years.

Sean O’Connor has announced he will step down from the board of private equity firm Graphite Enterprise Trust (GPE) in June. He has been a board member since April 2001. The company has six board members at present, and the average time on the board is eight years. The most recent appointment was Andy Pomfret in March 2011.

Tim Crowley has been appointed a non-executive director of property company Metro Baltic Horizon (MET). Trading in shares in this company has been suspended since November 2010.

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