TP ICAP, an interdealer broker, announced this Tuesday through a regulatory filing that Lorraine Trainer, who is an independent non-executive director, does not intend to seek re-election as a Director of the company at its next annual general meeting (AGM).
The company's AGM will be held on May 13, 2020. After the meeting, Trainer will be stepping down from TP ICAP's Board. Following this development, Angela Knight CBE now intends to seek re-election as a Non-Executive Director at the AGM.
Angela Knight to remain on TP ICAP Board
As Finance Magnates reported on September 27 of last year, Knight told the interdealer broker that after nine years with the company, she would not be seeking re-election in May 2020.
However, according to the statement from TP ICAP today, Knight has agreed to remain on the board. Because of this, she will remain as its senior independent director and will also become the chair of the remuneration committee, of which she has been a member for some years.
These changes will become effective from May 13, 2020. Furthermore, the financial company now expects that Knight will remain on its Board at the latest until the 2021 annual general meeting.
Commenting on the changes, Richard Berliand, chairman of TP ICAP plc, said in the statement: "I'm very sorry that Lorraine has decided to step down from the Board. I'm most grateful for the contribution she has made to important Board discussions over almost two years, her leadership of the Remuneration Committee and her support to me since I became Chairman last year. I wish Lorraine the very best for the future."
"I'm delighted that Angela has agreed to remain on the Board for the near-term future. During these very uncertain times, her considerable knowledge and experience, not only from her time on the Company's Board, but also gained from her other current and previous roles and positions, mean that she will continue to be an invaluable counsel to me and other members of the Board as we navigate the challenges ahead and continue in our Non-executive Director searches."
