UK Government Investments Ltd (UKGI), the government’s centre of excellence in corporate finance and corporate governance, announces the appointments of Clare Hollingsworth and Andrew Duff to the UKGI Board. Clare’s appointment is with immediate effect and Andrew’s is with effect from 9th July 2019. Simon Palley, who joined the Board in May 2016, will be stepping down in May at the end of his term.
Clare Hollingsworth has chaired Eurostar since 2013 and was its Chairman when the government sold its 40% shareholding in 2015 to a consortium comprising Caisses des Depots de Quebec and Hermes Infrastructure. She is also a non-executive director of Mölnlycke AB, a Swedish medical device company, and is a senior independent director at the Lawn Tennis Association. Prior to holding these positions, Clare was a non-executive director of Virgin Healthcare, Savills and Spire Healthcare, as well as the Managing Director of BUPA Hospitals where she led the sale to Cinven for £1.44billion in 2007.
Andrew Duff has spent his executive career in the energy industry and brings a wealth of experience in regulated business environments and strategic management. He is the Chairman of Severn Trent plc which in January 2019 was commended by Ofwat across a range of operational areas and for its “pathfinding social purpose company” thinking. Andrew is also Chairman of Elementis, a FTSE 250 chemicals company, and was a non-executive director of Ferguson Plc from 2004-2013. He was previously the Chief Executive Officer of RWE Npower and a member of the RWE Executive Committee. Andrew is the Senior Trustee of Macmillan Cancer Support.
Together, these appointments will significantly broaden the mix of skills on the UKGI Board, adding further industry and infrastructure experience to the Board’s considerable governance and financial expertise.
Robert Swannell, UKGI Chairman, said: “I am delighted that two such high-calibre appointees will be joining the UKGI Board. As we continue to focus on delivering excellent governance for the arm’s-length bodies in our portfolio, the skills that Clare and Andy bring in running and chairing major organisations will further add to the quality of advice and challenge that the UKGI Board provides to its executive team of private sector specialists and civil servants.
“My thanks to Simon Palley for his particularly valuable contribution to UKGI in its crucial formative years. Simon has brought his naturally enquiring mind and unconventional thinking to bear on our work at the Board in a way that was always creative and constructive. We will miss him.”
The new UKGI Board will see 36% of roles held by women.
Notes to Editors
UKGI is the government’s centre of excellence in corporate finance and corporate governance. In addition to delivering over £40bn in asset sales since inception in 2016, it is responsible for a portfolio of over 20 arm’s length bodies, and for delivering a range of corporate finance advice to government. UKGI is owned by HM Treasury and independently managed with a Board comprised predominantly of independent non-executive directors. UKGI works closely with both the private and public sectors, advising and interacting with ministers, Parliament and Whitehall departments.
Appointments to the Board of UKGI are public appointments subject to ministerial approval and made in accordance with the Governance Code on Public Appointments.
For further information:
UKGI: Kim Regisford – 0207 215 0611
Citigate Dewe Rogerson: Toby Moore, Andrew Hey, Jos Bieneman – 0207 638 9571