Non-executive director Aaron Le Cornu has stepped down from his position on the Digital 9 Infrastructure board, with Philip Braun being appointed as independent non-executive director.
The board changes, which went into effect on 22 July, come just over a month after non-executive director Gailina Liew stepped down from her position hours before Digital 9’s annual general meeting. Andrew Zychowski was also announced as a new non-executive director on 12 June, with his appointment coming into effect 22 July.
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Eric Sanderson, chair of Digital 9 Infrastructure, said: “I am pleased to welcome Philip to the board. He brings considerable skills and experience to the board, particularly within finance and audit, which will be invaluable as we progress through the company’s managed wind-down process. I would like to thank Aaron for his significant time, commitment and dedication to the board since his appointment in April 2022.”
Digital 9 announced its wind-down this January less than three years after the trust was launched following a failure to pay its dividend despite claiming the pay out was sustainable weeks before, and a controversial approval of Goldman Sachs as lead adviser. The trust is currently trading at a 72.7% discount to its net asset value, according to the AIC.
Braun joins the board with near 30 years of audit experience and currently serves as non-executive director and chair of the audit and risk committee for GCP Asset Backed Income Fund Limited as well as non-executive director and chair of the audit committee for CVC Income & Growth Limited. He previously spent 10 years with PWC’s audit practice in Jersey and Sydney, and 16 years as the lead audit partner for BDO in Jersey.
