ICG plc (“ICG” or the “Company”), the global alternative asset manager with $71bn assets under management, announces that the Chairman of the Board of Directors, Lord Davies of Abersoch, has informed the Company of his intention to step down from the Board with immediate effect.
ICG’s Nominations and Governance Committee, led by the Senior Independent Director Andrew Sykes, will lead the search for a successor. Andrew Sykes, who has been a member of the Board since 2018, has been appointed as Interim Chairman while the search process is underway.
Lord Davies of Abersoch, outgoing Chairman, commented:
It has been an honour to serve as Chairman of ICG, a fantastic company with exceptional prospects and one for which I have huge respect. I am facing a significant increase in the time I need to devote to my other responsibilities, and I believe it is in the best interests of ICG and its stakeholders that I now, with regret, step back from the Board. I wish the Board and the whole ICG team every success for the future.
Andrew Sykes, Senior Independent Director and Interim Chairman, commented:
On behalf of the Board I would like to thank Lord Davies for his outstanding leadership. He has helped ICG navigate the unprecedented challenges of the Covid-19 pandemic, supported our management through a period of continued strong growth, and reinforced the Company’s emphasis on sustainability and good governance. We respect his decision to devote himself to the other significant claims on his time.
Benoît Durteste, CEO and CIO of ICG, commented:
On behalf of the management team, I would like to thank Lord Davies for his guidance and leadership as Chairman of ICG, and for his support of the Board, the Executive and the wider firm.
This announcement is made in accordance with Listing Rule 9.6.
Shareholder / Analyst enquiries:
Andrew Sykes, Senior Independent Director and Interim Chairman +44 (0) 20 3545 2000
Chris Hunt, Head of Shareholder Relations +44 (0) 20 3545 2020
Andrew Lewis, General Counsel +44 (0) 20 3545 2000
Fiona Laffan, Global Head of Corporate Affairs +44 (0) 20 3545 1510
ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 30 years’ history, managing $71bn of assets and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.
We develop long-term relationships with our business partners to deliver value for shareholders, clients and employees, and use our position of influence to benefit the environment and society. We are committed to being a net zero asset manager across our operations and relevant investments by 2040.