An introduction to the role of an investment company NED
The Association of Investment companies (AIC) has more than 95% of Investment Trusts as members. As part of supporting the Boards of their member companies they have created a seminar for prospective Non-Executive Directors who are interested in being a board member of an Investment Trust. (See link bellow:)
At Board Apprentice we already have a number of Investment Trust Boards as host boards, some of who have added to their Annual Reports that they have a Board Apprentice:
JPMorgan Claverhouse AR 2014
Last year the founder of a not-for-profit company, Board Apprentice, approached me to ask whether Claverhouse would consider appointing an apprentice to shadow the Board in order to gain experience of the workings of a company at Board level. We considered this approach and discussed it with JPMAM and were in favour of the initiative. Accordingly we asked Board Apprentice to let us have CVs of candidates who were interested in a board apprenticeship at an investment trust.
The Board reviewed a number of CVs and asked the Chairman-elect to meet with a number of candidates. On his recommendation, the Board have invited Sharon Mavin to join with us as our board apprentice for 12 months from the date of the AGM in April. Sharon is an academic and is a Professor of Organisation and Human Resource Management from the Newcastle Business School, Northumbria University. She has been involved in issues relating to diversity, senior women at work, and is leading research in support of the Davies Report (2011) on Women on the Board in the UK. The appointment is strictly for a 12 month period to give Sharon further experience and it is not intended or expected to lead to a directorship of your Company. As apprentice Sharon will not be a Director of the Company. However, she will have access to all of the papers that are seen by Directors (save in the unlikely event of such secrecy or conflict of interest such that papers will be withheld) and it is intended that she will attend all Board meetings as an observer. She will not be paid, although the Company will reimburse travel costs and incidental expenses.
Your Board hopes that shareholders will find favour with this initiative and I look forward to introducing Sharon at the AGM.
The AIC is very supportive of diversity in all its forms and would especially like to invite Board Apprentice candidates for these events.
The events are free of charge and a very good opportunity for learning about NED work and the Investment Trust space. It is also a very good networking opportunity and we would highly recommend attending one.