AGM Statement

RNS Number : 5739I

RIT Capital Partners PLC

26 July 2012

 



AGM Statement - Board of Directors

The following passages are extracted from the statement of Lord Rothschild, Chairman of RIT Capital Partners plc, at the Company's Annual General Meeting on 26 July 2012:

Board changes

"There are several Board changes that I would like to announce today.

The first is the decision by Micky Breuer-Weil not to seek re-election. Micky announces today that he will be leaving the Company to start his own money management business, having been on the Board since 1998 - the past four years as Investment Director.

Micky has made a significant contribution to RIT. On behalf of the entire Board I would like to thank him and wish him well with his new venture.

I am delighted to announce today that the role of Investment Director will be assumed by Mr. Ron Tabbouche. Ron joins us from GAM where until most recently he was Head of Investments (Managed Portfolios).  Ron was the youngest member of GAM's Investment Committee and spent several years working alongside Gilbert de Botton. He has built a considerable reputation at GAM and we greatly look forward to him becoming our Investment Director. Ron will be a Director of RIT's operating subsidiary J. Rothschild Capital Management Limited (JRCM) and a member of its Investment Committee.

The next two changes are both a result of our recent strategic investments. Mr. Rick Sopher and Mr. Bill Winters will not be seeking re-election to the RIT plc Board and will instead be joining the board of JRCM.

With the importance of developing these strategic partnerships, we felt it appropriate to strengthen the JRCM Board - whilst ensuring that the RIT plc Board continues its primary role of leadership of the group and its corporate strategy."

Enquiries:

Brunswick Group LLP:

Tom Burns/Sophie Brand: 020 7404 5959

 

END

 

 

AGMRFMLTMBMTMPT