Monks Investment Trust chair Karl Sternberg has indicated that he will not put himself up for re-election in September 2025’s annual general meeting.
The board asked Sternberg to stay on as chair after the 2024 annual general meeting, according to the 2024 annual report. It plans to appoint a new chair by mid-2025 and will make a further announcement about succession plans “in due course”.
On 5 September, Sternberg will take on a new role as a non-executive director of the Capital Gearing Trust.
Before Monks, Sternberg was the chair of the JP Morgan Income & Growth Investment Trust and the senior independent director of Alliance Trust PLC.
The trust is currently trading on a 10.8% discount and has a share price total return of 25% over the past five years, in comparison to the global AIC sector average of 52.1%.
See also: Monks: Analysts weigh in after trust lags benchmark for third successive year
