Hirco’s Board Down to Three After Latest Departure

DIRECTOR MOVES July 11-15: The departure of Douglas Gardner and Kersi Gherda has left Hirco with only three board members

Szymon Idzikowski 18 July, 2011 | 4:09PM
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Director Moves:
BlackRock Frontiers (BRFI): John Murray has joined BlackRock Frontiers as the company’s fifth non-executive director. He has held similar positions before, including a role on a board of directors with BlackRock New Energy Investment Trust (BRNE) between 2000 and 2011. He currently also serves as a non-executive director with Ecofin Water & Power Opportunities (ECWO).

Graphite Enterprise Trust (GPE): Lucinda Riches has been appointed as a non-executive director, increasing the number of board members to six. She also serves as a non-executive director with Diverse Income Trust (DIVI), which she joined in April this year.

Hirco (HRCO): Kersi Gherda has retired as director after serving five years on the board. It is the second departure this month following Douglas Gardner’s resignation on July 1st. This leaves just three members on the board with an average tenure of two years.

Sirius Real Estate (SRE): Robert Sinclair, who has been serving as a non-executive director for the last four years, has replaced Dick Kingston as a chairman of the company. Kingston resigned after four years on the board. Laxey Partners and Weiss Asset Management, two of the main shareholders, have been invited to propose new directors. Weiss has already recommended the appointment of Rolf Elgeti and Eitan Milgram subject to Guernsey regulations and board approval. The board has also announced that all directors will stand for re-election at the next annual general meeting with the exception of Chris Fish, non-executive director, who has given notice to retire from the board on September 1st or at the 2011 annual general meeting.

Director Buying
Alliance Trust (ATST)- Katherine Garrett-Cox
BlackRock Frontiers (BRFI)- Lynn Ruddick
British Assets (BSET)- Lynn Ruddick & James Martin Long
Diverse Income Trust (DIVI)- Lucinda Riches & Michael Wrobel
F&C Investment Trust (FRCL)- Jeremy John Tigue & Roger Bone & Jeffrey Hewitt & David Clementi
F&C Managed Portfolio Growth (FMPG)- David Harris
F&C Managed Portfolio Income (FMPI)- David Harris
Finsbury Growth & Income (FGT)- David Hunt
Pacific Alliance Asia Opps (PAX)- Christopher Gradel
Prosperity Voskhod (PVF)- Robert W Boyle
Temple Bar (TMPL)- John Reeve
TR Property (TRY)- Richard Stone

Szymon Idzikowski is a closed-end fund analyst with Morningstar.

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Szymon Idzikowski

Szymon Idzikowski  is a closed-end fund analyst with Morningstar.

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