Jupiter Fund Management’s non-executive chair Nichola Pease has stepped down with immediate effect.
Pease has quit for personal reasons, according to a stock exchange announcement today, 26 April.
She has been replaced in the role by independent non-executive director and chair of the audit and risk committee, David Cruickshank.
Karl Sternberg will step in to act as interim chair of the audit and risk committee, while Roger Yates will join it. The appointments remain subject to regulatory approval.
Jupiter said at least one new independent non-executive director will be added to the board at a later date.
The news comes the day after Jupiter reported a net outflow of £900m in its trading update for the three months to 31 March.
Jupiter CEO Matthew Beesley said: “It has been a privilege to work with Nichola and I have benefitted from her support and strategic insights since my appointment. I look forward to working with David and the rest of the board as we continue to drive progress in line with our strategic ambitions.”
Cruickshank added: “I am pleased to be appointed chair of Jupiter and look forward to working with the team as we continue our resolute focus on delivering for our clients, shareholders and indeed all stakeholders. Nichola leaves an experienced and talented board, who are focused on helping deliver our strategy and I would like to extend our thanks to Nichola, on behalf of the board, for her strong leadership and support.”