3i announces board changes
3i Group plc announces that Lord Smith of Kelvin intends to retire as a non-executive Director with effect from 31 October 2009 in order to focus on his other responsibilities, including as Chairman of the 2014 Commonwealth Games Organising Committee.
John Allan, who joined the Board as a non-executive Director on 1 September 2009, will succeed Lord Smith of Kelvin as Chairman of Remuneration Committee from 1 November 2009.
Baroness Hogg, Chairman, said:
“Robert has made an outstanding contribution to the board over many years and has been a marvellous colleague providing the perfect balance of challenge and support. We are delighted that he has been appointed as Chairman of the 2014 Commonwealth Games organising committee and wish him every success.“
3i is an international leader in private equity. We focus on Buyouts, Growth Capital and Infrastructure and invest across Europe, Asia and North America. Our competitive advantage comes from our international network and the strength and breadth of our business relationships. These underpin the value that we deliver to our portfolio, shareholders and fund investors.
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