Digital 9 Infrastructure has appointed Eric Sanderson as independent non-executive chair of the company as it goes through its wind-down process.
Sanderson’s appointment will be effective immediately, replacing interim chair Charlotte Valeur. Currently, Sanderson is non-executive chair of JPMorgan Emerging Europe, Middle East & Africa Securities plc and BlackRock Greater Europe Investment Trust plc. He is the former CEO of British Linen Bank, operating under Bank of Scotland.
Digital 9 noted that Sanderson holds no shares in the company, and that the board plans to find at least one more non-executive director to aid in the process.
The appointment follows Digital 9 shareholders voting for a trust winddown in late March. The board proposed the wind down on 29 January, when Digital 9’s discount had fallen to 76%. As of 6 May, the trust was trading on a 72% discount, according to the AIC.
Gailina Liew, senior independent director of Digital 9, said: “We look forward to welcoming Eric Sanderson as a highly experienced and respected investment trust Chair to lead the Company through its managed wind-down process.
“We also take this opportunity to thank Charlotte Valeur for her commitment to the Company since IPO and for her dedicated leadership as Interim Chair of the Company over the past four months. As a Board we remain committed to executing an orderly wind-down to maximise shareholder value over time.”
