Liberty appoints new directors

Posted On Tuesday, 07 July 2009 02:00 Published by
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Liberty International has announced that it has appointed two non-executive Directors, Andrew Strang and Andrew Huntley.

UK real estate investment trust Liberty International plc announced at its Annual General Meeting on Tuesday that it has appointed two non-executive Directors, Andrew Strang and
Andrew Huntley.

Both appointments will be effective from Wednesday 8 July 2009.

Andrew Strang, 56, was the Chairman of Threadneedle Property Investments Limited until April 2009.

He is a Consultant to Hermes Real Estate; a member of the British Property Federation and a Member of the Property Panel of the Association of British Insurers.

He is a Chartered Surveyor having started his career with Richard Ellis thirty years ago.

Andrew Huntley, 70, is also a Chartered Surveyor whose career with Richard Ellis commenced some 40 years ago. He was Chairman of Richard Ellis in 1993 until 2002.

He was a non-executive director at Pillar Property plc from 2000-2005 and is currently non-executive Chairman of Panceltica Holdings Limited and a non-executive Director of Catella Property Group, Miller Group Limited and The Real Office Group Limited.

In other developments within the group, Michael Rapp, who is the Chairman of the Group's Investment Committee, has informed the Board that he wishes to step down at the 2010 Annual General Meeting.

Both new non-executive Directors are independent, both will be appointed to the Investment Committee and Andrew Strang will be appointed to the Audit Committee

Their appointments will ensure that Liberty International meets the Combined Code on Corporate Governance in respect of both the balance of independent and non-independent directors on the board and the composition of the Audit Committee, which will comprise three independent non-executive directors when Andrew Strang is appointed to that Committee.

It was also announced that Graeme Gordon has appointed Raymond Fine, South African chartered accountant, as an Alternate Director, with effect from 8 July 2009.

The Chairman of Liberty International, Patrick Burgess, said: "Michael Rapp will be greatly missed by the Board when he steps down in 2010 as his contribution to the Board has been outstanding.

We are pleased to welcome Andrew Strang and Andrew Huntley to the group; both have a distinguished background in property and a wealth of experience to bring to the Board.

In addition, the appointments will ensure that Liberty International complies fully with the Combined Code on Corporate Governance. We are also pleased to welcome Raymond Fine as an Alternate Director to Graeme Gordon."

Source: I-Net Bridge

Publisher: I-Net Bridge
Source: I-Net Bridge

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