Euromoney fills Chairman spot with own MD

Euromoney Institutional Investor has joined Wood Group and SABMiller in cocking a snook at what is regarded as best practice in the City and is promoting its Managing Director, Richard Ensor, to the role of Chairman.

Euromoney Institutional Investor has joined Wood Group and SABMiller in cocking a snook at what is regarded as best practice in the City and is promoting its Managing Director, Richard Ensor, to the role of Chairman.

Ensor will replace Euromoney's soon-to-retire Executive Chairman, Padraic Fallon, with Richard Ensor. The City's investment community frowns on Chief Executives or Managing Directors moving up to become Chairmen. Earlier this month, oilfield support services firm Wood Group said its Chief Executive Officer, Allister Langlands, would succeed Chairman Sir Ian Wood when he retires in November, while South African brewing group SABMiller chose Chief Executive Officer Graham Mackay to be its Chairman, against the recommendation of the UK Corporate Governance Code.

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