Richard Hughes, non-executive director and chair of the audit committee at the Lindsell Train Investment Trust (LTIT), will step down after its AGM at the end of August.
LTIT confirmed that he was retiring from the role for personal reasons.
Hughes has been on LTIT’s board since September 2018, having ended a three decade-long career at M&G the previous March.
There, he managed the M&G UK Income Fund from its launch in 2002, having led the M&G Recovery Fund between 1987 and 2000, the M&G UK Smaller Companies Fund (from 1988 to 1992) as well as the M&G Charifunds.
LTIT confirmed that Helena Vinnicombe will take over from Hughes as chair of the Audit Committee with immediate effect. She does so on an interim basis, with the search for Hughes’ replacement already underway.