Alliance Trust 'accelerates' search for non-exec director ahead of AGM

Alliance Trust has revealed it has "accelerated the process" of the search of a new non-executive director ahead of its crucial AGM later this month.

In a trading update, Alliance Trust made no reference to Elliot Advisors, despite the ongoing public spat with the hedge fund firm, but confirmed it had appointed executive leadership search firm Russell Reynolds to hunt for "a truly independent non-executive director". "We recently reported our intention to initiate a search for a new, truly independent non-executive director in the summer as part of our ordinary board forward planning," the update said. "We confirm that we have accelerated this process and have appointed Russell Reynolds to undertake a broad, transparent and rigorou...