Alliance Trust's shares rise 3% as board makes 'radical' changes

Garrett-Cox to step down from board

Alliance Trust's share price has risen 3% to 472p this morning, following the announcement of the "biggest changes in the trust's history".

These include a radical shake-up of the £2.5bn trust's board, which will become "fully independent, comprising solely non-executive directors". What can trust boards learn from Alliance vs Elliott spat? The move will see Katherine Garrett-Cox step down from the board, but she will remain chief executive and director of Alliance Trust Investments (ATI). A separate board, including independent non-executive directors, will be established for ATI, with Susan Noble becoming chair. She will retire from her role on the board of Alliance Trust as a result. Additionally, chief financial ...