Double hire bolsters Scottish Mortgage board experience

Sharon Flood and Vikram Kumaraswamy have backgrounds ‘relevant to the trust’s portfolio’

View of Edinburgh cityscape, Scotland

Baillie Gifford’s flagship investment trust Scottish Mortgage has appointed Sharon Flood and Vikram Kumaraswamy as independent non-executive directors.

They will take up their respective roles on the board on 17 May.

Flood brings experience in private equity to the trust, having worked as group CFO of Sun European Partners from 2012-2014.

The appointment comes weeks after non-executive director Amar Bhidé exited the firm, citing concerns over the board’s investment experience and the risks posed by its exposure to unlisted assets.

Currently non-executive director of Getlink SE, Flood also chairs the remuneration committee of Pets at Home PLC.

Kumaraswamy is head of strategy and corporate development at Unilever, where he leads portfolio development and capital allocation.

On appointment, the duo will join the Scottish Mortgage audit and nomination committees.

Scottish Mortgage chair Fiona McBain, who will step down from her role at the firm’s next AGM in June, said: “On behalf of the board, I am delighted to welcome Sharon and Vikram to Scottish Mortgage. Sharon is a seasoned non-executive director having served on the boards of several high-profile companies, and Vikram brings great international perspective and insight to the board.

“They both have extensive experience relevant to the trust’s portfolio and will undoubtedly make valuable contributions to the company.”

See also: Scottish Mortgage bust-up and Home Reit troubles strike a sharp contrast with open-ended funds

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