Two non-executive directors have stepped down from the board of Liontrust.
According to a statement to the stock exchange on Friday (March 24), Emma Howard Boyd and Quintin Price left the fund manager’s board with immediate effect.
Liontrust said it is in the process of searching for new non-executive directors and chair Alastair Barbour thanked the pair for their contributions to the board.
The Financial Times has reported that the two directors quit over a row about Barbour’s tenure on the board.
The board changes come soon after the chair of the Scottish Mortgage Investment Trust stepped down after another board member criticised the length of her tenure.
Fiona McBain announced her departure from the board of the trust last week (March 21) after fellow board member Amar Bhidé over number of issues, including McBain’s 14 years on the board.
The UK corporate governance code recommends board chairs serve a maximum of nine years.
Barbour has been non-executive chair of Liontrust for nearly four years, however he has been on the board since 2011.
Liontrust has been contacted for comment.
sally.hickey@ft.com
