REG-Capital Gearing Trust P.l.c.: Chairman Succession

Capital Gearing TrustAnnouncement

19/05/2025 16:00

19 May 2025

 

Capital Gearing Trust P.l.c.

(the “Company”)

 

Chairman Succession

 

Legal Entity Identifier: 213800T2PJTPVF1UGW53

 

Having previously confirmed that Jean Matterson will be retiring from the
Board of Capital Gearing Trust P.l.c. at the conclusion of the Company’s
forthcoming Annual General Meeting to be held on 3 July 2025 (‘2025 AGM’),
the Board is pleased to confirm that, following a recommendation from the
Nomination Committee,  she will be succeeded as Chairman of the Company by
Karl Sternberg. He will further take on the role of Chairman of the Nomination
Committee.

 

Mr Sternberg was appointed to the Board in September 2024 and has extensive
experience and expertise in both investment management and the investment
trust sector.

 

He was a founding Partner of institutional asset manager Oxford Investment
Partners, which was acquired by Towers Watson in 2013. Prior to that, he held
a number of positions at Morgan Grenfell/Deutsche Asset Management between
1992 and 2004 including Chief Investment Officer for London, Australia, Europe
and the Asia Pacific. Since 2006 he has developed his non-executive director
career, with a focus on investment management and the investment trust sector
in particular. From 2010 to 2015 he was a Non-Executive Director of Friends
Life Group plc where he was Chairman of the Investment Oversight Committee. He
was Chairman of JPMorgan Income & Growth Investment Trust plc until November
2016 and the Senior Independent Director of Alliance Trust PLC until December
2021.  He was a Non-Executive Director of Lowland Investment Company plc
until December 2021 and of Herald Investment Trust plc until April 2024.

 

Mr Sternberg is currently Chairman of The Monks Investment Trust plc,
Clipstone Industrial REIT plc (listed in the Channel Islands), and Apax Global
Alpha Limited, and a Non-Executive Director of Howard de Walden Estates.  He
will be retiring as chairman and from the board of The Monks Investment Trust
plc in September 2025.

 

Senior Independent Director, Wendy Colquhoun, commented:

 

“The Board is delighted that Karl has agreed to succeed Jean upon her
retirement at the conclusion of the 2025 AGM. Further, the Board would like to
place on record its gratitude to Jean for her wise counsel and committed
leadership, which she will continue to exercise until the succession takes
place in July.”

 

 

For further information please contact:

Frostrow Capital LLP - Company Secretary
Alison Vincent
0203 709 2481

company.secretary@capitalgearingtrust.com   

 

   

        

 



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