(Sharecast News) - Music rights owner Hipgnosis said on Tuesday that it has appointed Robert Naylor as chairman of the board with immediate effect, replacing Andrew Sutch.
Hipgnosis said Naylor has more than 25 years' experience in capital markets, specialising in investment companies. He is currently chief executive of investment company Intuitive Investments, which provides investors with exposure to a portfolio of life sciences and technology businesses.
He is also non-executive director of AIM-listed controlled environment agriculture company Light Science Technologies.
Most recently, Naylor was non-executive chairman of Round Hill Music Royalty Fund on its sale to a company directly owned by Alchemy Copyrights, trading as Concord.
He previously held various positions within JP Morgan Asset Management Limited, Panmure Gordon and Cenkos Securities.
Hipgnosis also announced the appointment of Francis Keeling as a non-executive director with immediate effect.
Senior independent director Sylvia Coleman said: "On behalf of the board, we are delighted that Robert and Francis have agreed to join Hipgnosis Songs Fund.
"Robert and Francis's appointments follow extensive engagement with shareholders, and their experience and knowledge working with investment companies, most notably at Round Hill Music Fund, will be invaluable to Hipgnosis as we look ahead to the next chapter."
Last month, Hipgnosis shareholders voted against the company's planned $440m sale of a music catalogue to a group backed by private equity firm Blackstone.
Shareholders also voted against a Continuation Resolution - meaning the fund could be wound up - and against the re-election of chairman Andrew Sutch.
Hipgnosis Song. (SONG)