20th Oct 2020 10:29
(Alliance News) - Fund and shares platform Hargreaves Lansdown PLC on Tuesday said it has appointed former Liontrust Asset Management PLC chair Adrian Collins to the board as a nominee director of Peter Hargreaves, the company's co-founder and largest shareholder.
Collins, who will join as a non-independent non-executive director, has worked in the fund management business for over 40 years and was chair of Liontrust Asset Management from 2009 to 2019.
Hargreaves Lansdown said it has entered into a shareholder agreement with Peter Hargreaves, reflecting the co-founder's continuing interest in the company whilst respecting the strong independent governance principles of the board.
Under the agreement, Peter Hargreaves is entitled to nominate one non-independent, non-executive director for appointment to the company's board, so long as he and his associates' control at least 10% the company's voting rights.
Shares in Hargreaves Lansdown were up 1.1% at 1,424.00 pence each in London on Tuesday morning.
By Tapan Panchal; [email protected]
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