Hargreaves Lansdown co-founder Stephen Lansdown has announced he is stepping down as chairman of Ravenscroft amid a number of changes to the board.
Lansdown became a shareholder of Ravenscroft in December 2012, was appointed as non-executive director in September 2015 and became chairman in June 2017.
He will step down from the board after the firm’s AGM on 24 June but will remain the investment company’s majority shareholder. He owns 34.84% of the company’s issued share capital, according to the latest interim report.
A press release announcing the move said Lansdown had decided to retire from the board and all related committees to concentrate on his sporting interests in Bristol and his conservation work in Africa, as well as spend more time with his family.
He said: “‘It’s been a privilege to be on the Ravenscroft board for almost six years and chairman for the past four, during which time assets under administration have increased by more than 200%, our client numbers have more than doubled and we now have five offices across four jurisdictions.”
He added: “Ravenscroft is a company with an exciting future and while I will no longer be on the board, I remain the majority shareholder, which shows my confidence in the whole team.”
Ravenscroft names Stephen Lansdown’s replacement
Ravenscroft has appointed Dominic Jones as non-executive chairman to replace Lansdown. Jones is the first Jersey resident to hold position since Ravenscroft was founded in 2005.
Jones has been a director at the Ravenscroft group since 2008 and joined the Ravenscroft Holdings board in 2014. He is also CEO of his family business JP Restaurants and has been an executive director since 2010. He has also sat on several other boards and charities.
He said: “‘It’s an honour to be appointed as chairman of Ravenscroft as we continue to grow the business. It’s almost unrecognisable as the business I joined as non-executive director in 2008 but that is most certainly positive for the board, the team and more importantly our clients and shareholders.
“I want to thank Stephen for his excellent chairmanship as his experience and insight have been invaluable and I am looking forward to the challenge of building on the foundations we have laid for the next chapter in Ravenscroft’s story.”
As a result of Lansdown’s departure, Richard Collenette has joined the board as a non-independent non-executive director to represent the interests of the Lansdown family office, Pula Limited. Collenette is the chief executive of Pula.
Former Hargreaves Lansdown marketing director Mary Theresa Kingston has also joined the board as an independent non-executive director. Kingston, who was Hargreaves’ first full-time employee before leaving the firm in 2013, is based in Bristol and becomes a board member on 1 June.
