Electra's Edward Bramson to step down as interim CEO

Will remain as non-exec director

Activist investor Edward Bramson will step down from his role as interim CEO of the £360m Electra investment trust at its annual general meeting in March 2018, it was announced this morning.

Bramson will remain as a non-executive director, but the duties of chief executive will be split between chairman Neil Johnson and CFO Gavin Manson. Sherborne Investors, which is managed by Bramson, remains Electra's largest shareholder, with a stake of just under 30%. Bramson had been building his position in the trust through his firm Sherborne Investors for many years, first disclosing a 10% stake in March 2014. As the stake grew, he also made several attempts to join the board, finally gaining a place in late 2015. He was made interim CEO of the trust in May 2016. The activi...