SVG restructures board

SVG Capital has announced a number of changes to its board structure in preparation for its proposed new strategy.

Stephen Duckett, formerly managing director of Hellman & Friedman, is to join the board while Denis Raeburn and Francis Finlay will both step down at its annual general meeting.

Edgar Koning and chairman Nicholas Ferguson are also both to retire from the board at the end of the year.

Nicholas Ferguson, chairman of SVG Capital, says: “With the proposed new strategy, the directors have considered carefully the appropriate board composition.

“Stephen has had a distinguished career in private equity and will bring valuable experience to the board, and the directors welcome him.” (article continues below)

He adds: “Finally, after 16 years both Edgar and I will be retiring from the board at the end of the year.

“With the company now on a solid financial footing and the foundations for the proposed new strategy laid, it is the right time to do so and for a new chairman to oversee the implementation of the new strategy.”