Henderson Group announces changes to board and corporate structure

Asset management house Henderson Group has announced a number of changes to its board membership and corporate structure.

Chairman Rupert Pennant-Rea will stand down from the board in May 2013 and the group said that a comprehensive search had commenced for his successor.

In addition, the company has announced a change in its tax residency from the Republic of Ireland to the UK by means of a corporate restructuring. The UK government's Controlled Foreign Company reform means the group's tax position and effective tax rate are unaffected by having a UK resident parent company.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Furthermore, the board has decided to reduce the number of executive directors on the board. David Jacob and James Darkins have stepped down with effect from December 12th.

The group also announced the appointment of Jacqui Irvine as company secretary with effect from December 12th replacing Fionnuala Hanrahan.

Henderson Group's share price was down 1.49% to 125.70p at 10:24 on Thursday morning.

MF