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(Sharecast News) - Digital 9 Infrastructure announced the appointment of Eric Sanderson as its independent non-executive chair on Wednesday, to oversee the company's wind-down.
The London-listed firm said Sanderson, a chartered accountant and former chief executive officer of British Linen Bank, would bring much experience to the role, having previously served as chief executive of Bank of Scotland's treasury arm, alongside extensive non-executive board experience in investment companies.
He currently holds the position of non-executive chair of JPMorgan Emerging Europe, Middle East & Africa Securities and BlackRock Greater Europe Investment Trust.
Sanderson also served as non-executive chair of Schroders UK Mid Cap Fund, and held directorial roles in various companies including Dunedin Enterprise Investment Trust.
Upon approval from the Jersey Financial Services Commission (JFSC), Sanderson's appointment would take immediate effect, leading to the resignation of Charlotte Valeur as interim chair and independent non-executive director.
After assuming his role, Digital 9 said Sanderson would join several committees, including the risk, valuation, nomination, and management engagement committees.
Sanderson's appointment followed an independent external recruitment process led by the board's nomination committee.
The committee, with Eric Sanderson's assistance, was actively recruiting at least one additional non-executive director to support the managed wind-down, with further updates expected in due course.
Sanderson did not currently hold any shares in the Company.
"We look forward to welcoming Eric Sanderson as a highly experienced and respected investment trust chair to lead the company through its managed wind-down process," said Gailina Liew, chair of the firm's nomination committee and senior independent director.
"We also take this opportunity to thank Charlotte Valeur for her commitment to the company since IPO and for her dedicated leadership as interim chair of the company over the past four months.
"As a board, we remain committed to executing an orderly wind-down to maximise shareholder value over time."
At 1115 BST, shares in Digital 9 Infrastructure were down 0.86% at 21.86p.
Reporting by Josh White for Sharecast.com.