IIG appoints Sir Nigel Rudd as its next Chairman

Intuitive Investments Group plc ("IIG")

IIG appoints Sir Nigel Rudd as its next Chairman

IIG, a closed-end investment company currently focussed on the life sciences sector, today announces the appointment of Sir Nigel Rudd as its next Chairman.

Sir Nigel will become IIG's Independent Non-Executive Chairman subject to admission of the Company to the Specialist Fund Segment of the London Stock Exchange's Main Market, which is expected to take place on around 8 August 2023.  Concurrently, Julian Baines MBE, the present Non-Executive Chair of the Company, will step down as Chairman and will become an independent non-executive Director of IIG. 

Sir Nigel is an experienced Chairman of listed businesses and investor in emerging growth companies and SMEs. Over the past 25 years, he has chaired companies such as Pendragon plc, the automotive retailer; Pilkington, a manufacturer of glass and glazing systems; Alliance Boots, a global retail pharmacy; Heathrow, the UK airport; Invensys plc, an engineering firm; Business Growth Fund, an investor in growth companies; Signature Aviation plc, the aviation firm; and Meggitt plc, the aerospace and defence firm.  Sir Nigel occupied a seat on the Barclays Bank Board for more than 12 years, latterly as Deputy Chairman, retiring in 2008. 

Sir Nigel is currently a Non-Executive Director of Sappi Limited, a renewable resource company.  Sir Nigel is best known for his role in the 1980s at Williams plc, which he turned into a FTSE 100 Company.  Williams plc remained one of the largest industrial holding companies in the UK until its demerger in 2000 into two separate entities, Chubb and Kidde.

As part of his role, Sir Nigel will join the Remuneration Committee and chair the Nominations Committee.

Sir Nigel Rudd said: "I am delighted to be joining IIG as Chair and look forward to working with the team on the exciting opportunities that lie ahead."

Julian Baines said: "I look forward to working with Sir Nigel as IIG's next Chair. Sir Nigel has tremendous know-how with growing companies - it is a testament to our ambition that we have been able to attract someone of Sir Nigel's calibre and experience."

About Intuitive Investments Group plc

IIG is an investment company seeking to provide investors with exposure to a portfolio concentrating on fast growing and / or high potential Life Sciences businesses operating predominantly in the UK, continental Europe and the US, utilising the Board's experience and in particular that of the chairman of the Investment Committee, David Evans, to seek to generate capital growth over the long term for shareholders.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.