Electra board duo departs in latest top-level changes

Two more board members have stepped down from Electra Private Equity, a month after the London-listed trust’s surprise statement of intent to terminate its contract with the private equity manager Electra Partners.

Dame Kate Barker

Dame Kate Barker has stepped down from the investment trust’s board

Kate Barker and Francesca Barnes have resigned from the trust’s board with immediate effect, according to a statement from the trust on June 20.

Barker, a board member since 2010, chaired the remuneration and nomination committee and was the trust’s senior independent director. She had been interim chairman of Electra Private Equity from November until May after Roger Yates left the role in the wake of the vote that installed the activist investor Edward Bramson on the board.

Barnes joined the board in March 2013 and had chaired its valuations committee.

The latest board changes come just weeks after Josyane Gold, a lawyer specialising in private equity funds who has appeared in Financial News‘s annual list of the 100 most influential women in European finance, also stepped down as a director at the trust.

The board resignations comes just one month after Electra Private Equity said that it had served notice of its intent to terminate its contract with Electra Partners. This means that the listed trust could sever all ties with the team that manages all of its investments. The trust also appointed Bramson as unpaid interim chief executive officer.

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