Directorate Change

8 Jan 2007 07:01

Electra Private Equity PLC08 January 2007 Regulatory AnnouncementFor Immediate Release8 January 2007 Electra Private Equity PLC Appointment of two non-executive Directors The Board of Electra Private Equity PLC ("Electra") is pleased to announce theappointment of Colette Bowe and Lucinda Webber as non-executive Directors ofElectra. These appointments will take effect from 1 March 2007. In his Chairman's Statement issued on 5 December 2006 Sir Brian Williamsonstated that it was now appropriate to refresh the membership of the Boardfollowing the review of the investment strategy and management arrangements. Commenting on these appointments Sir Brian said:- "These are the first two of three non-executive appointments which the Boardintends to make. The Board anticipates that a further non-executive Directorwill be appointed before the release of the Interim Results in June 2007. Therewill then be a short period of transition after which some existing Directorswill retire from the Board." Brief details about Colette Bowe and Lucinda Webber are set out below. Colette Bowe Colette Bowe has divided her career between the City and Whitehall. An economistby profession, she spent the early part of her career in the Department of Tradeand Industry before moving into City regulation - first at the Securities andInvestments Board ( forerunner of the FSA) and then as the first CEO of thePersonal Investment Authority ("PIA"). After the PIA, she went on to becomeExecutive Chairman of what were then the Fleming Asset Management businesses inEurope - Save and Prosper in the UK and Fleming Funds Management in Luxembourg.In 2001, she began her career as a non-executive, where, again, she divides herportfolio between the private and public sectors. She is currently a director ofMorgan Stanley Bank International and of Axa Framlington. In the public sector,she is the Chairman of the Ofcom Consumer Panel and a member of the StatisticsCommission. She is also the Chairman of the Council of Queen Mary, University of London. Lucinda Webber Lucinda Webber has over twenty years experience in the private equity industryhaving joined Barclays Private Equity ('BPE') from Barclays Merchant Bank in1984. She became a Director of BPE and also of Barclays Capital DeveloppementS.A. ('BCD') in 1990. She has sat on a number of Investment and ValuationCommittees for private equity within Barclays. In 1997 she moved to workingpart-time as a Director for BPE and BCD and since 1999 she has worked as aconsultant in private equity, remaining on the Barclays Ventures Investment andValuation Committees. Other than as detailed above, Electra confirms that there are no other detailsto be disclosed in respect of these two appointments pursuant to paragraph9.6.13 of the Listing Rules. For further information Sir Brian Williamson, Chairman Electra Private Equity PLC 020 7306 3883Nick Miles. M: Communications Limited 020 7153 1535 This information is provided by RNS The company news service from the London Stock Exchange