Business
Board changes
Caledonia Investments plc announced significant board changes, with Will Wyatt set to succeed David Stewart as Chair at the upcoming annual general meeting, following a rigorous selection process supported by major shareholders. The Hon Charles Cayzer will also not stand for re-election as a non-executive director after a four-decade tenure. Wyatt, previously Chief Executive for over a decade and currently a non-executive director, brings extensive knowledge of the company's strategy and culture. Stewart, who served as Chair for nine years and a director for eleven, expressed confidence in Wyatt's leadership. Disclaimer*
About this update from Caledonia Investments Plc
[{"type":"text","content":"\n\n\n \nCaledonia Investments plc\n \nBoard changes\n \nCaledonia Investments plc (\"Caledonia\" or the \"Company\") announces that the board has appointed Will Wyatt as David Stewart's successor as Company Chair. David will retire from the board at the Company's forthcoming annual general meeting (the \"AGM\"). In addition, The Hon Charles Cayzer has decided not to stand for re-election as a non-executive director at the AGM.\n \nWill successfully led Caledonia as Chief Executive for over a decade until becoming a non-executive director in July 2022. He is a member of the Cayzer family and has a deep understanding of Caledonia's culture, investment strategy and long-term approach.\n \nWill's appointment as David's successor follows the completion of a formal, rigorous and transparent process undertaken by the Company's Nomination Committee led by Guy Davison, Senior Independent Director. Major shareholders, who were consulted in advance, confirmed their broad support for Will's appointment.\n \nDavid Stewart, Caledonia's Chair, commenting on these changes, said:\n \n\"I am very pleased to announce Will as my successor. He has a unique perspective and long-standing knowledge of the business, which I am sure will serve the Company well as he takes on this new role. I wish him every success.\n \nCharles has been ever-present on the board of Caledonia since 1985, two years before Caledonia disposed of its stake in British & Commonwealth Holdings Plc. He has helped guide the strategy and has played a key part creating Caledonia's unique culture both as an executive and latterly, as a non-executive director. We shall miss his wisdom and extensive experience and wish him a long and happy retirement after four decades of service.\n \nOn a personal note, it has been an absolute privilege to serve as Chair, and as I step down at this year's AGM, I do so with confidence in Caledonia's future.\"\n \nWill Wyatt, non-executive director and Chair elect, commented:\n \n\"It is an honour to be appointed as Chair, and I look forward to continuing to work with the board and management team in this new capacity.\n \nOn behalf of the board, I would like to thank David for his 11 years as a director, nine years of which were as Chair. During this time he led the board through many majo...