26th May 2016 15:06
LONDON (Alliance News) - Alliance Trust PLC on Thursday made good on a promise to tackle the absence of women on its board in the wake of the departure of former chief executive Katherine Garrett-Cox and ex-chair Karin Forseke after losing a battle against activist shareholder Elliott Advisors.
In a statement Thursday, Alliance Trust named Clare Dobie as an independent non-executive director with immediate effect, making her the only woman on the board.
Dobie, who already sits on the boards of Aberdeen New Thai Investment Trust PLC, F&C Capital & Income Investment Trust PLC and Schroder UK Mid Cap Fund PLC, spent the early part of her career as a financial journalist. She spent the final three of 15 years in financial journalism as City Editor at The Independent.
Between 2001 and 2005, Dobie was at GAM, formerly Global Asset Management, as group head of marketing and served on the executive business committee. Prior to that, between 1993 and 2001, she had a number of roles at what was once known as Barclays Global Investors, including head of marketing. Barclays PLC sold the fund management arm to New York-listed money manager BlackRock Inc in 2009.
"I am delighted that Clare is joining the board as she brings extensive knowledge of marketing and client service within asset management companies. Her skills and expertise in the investment trust sector and her early background in financial journalism provide an ideal complement to an already strong board," Alliance Trust Chairman Robert Smith said in a statement.
In March, the chairman, known as Lord Smith of Kelvin, had said he was "acutely aware" of the lack of gender diversity on the board, committing to address the issue "at the earliest" opportunity.
Garrett-Cox's departure came after she was forced to step down from the board and relinquish her leadership of Alliance Trust in October, following a bruising battle with activist shareholder Elliott Advisors. Smith then replaced Forseke at the end of 2015.
Shares in Alliance Trust were down 0.5% at 505.50 pence Thursday.
By Samuel Agini; [email protected]; @samuelagini
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