News

11/03/2009

New appointment to senior management team at GO

Gavin Morris has joined the senior management team of Governance for Owners Group LLP (GO) as a managing director with responsibility for engagement. He will work closely with the investment team on bringing about positive change in GO's portfolio companies.

Gavin Morris has fifteen years experience as Finance Director of listed and private equity backed companies across a range of sectors, most recently with D S Smith plc, where he was Group Finance Director from 2002-08. Previously he was Chief Financial Officer at CITEX Group, Philips Lighting Holdings BV, IONICA Group plc, Alfred McAlpine plc and Norcros plc. During this period he has worked on a number of rights issues, restructures, takeovers, disposals and buy-outs.

GO Chief Executive Officer, Peter Butler, said:

"Gavin brings a wealth of strategic and financial experience, as well as a comprehensive understanding of practical governance issues, to our senior management team. His knowledge of the European market place, and the cultural and corporate differences within it, will enhance Governance for Owners’ ability to engage with our portfolio companies."

Gavin Morris said:

"Governance for Owners is a leading global voice on shareholder engagement and corporate governance, and I am delighted to be joining the team, particularly at a time when shareholder scrutiny of corporate structures and processes is likely to be more intense than ever."

ENDS

For further information contact:

Hattie Burgess, GO, + 44 (0)20 7614 4759

Andrew Fleming, Andre Flemmings, Penrose Financial, + 44 (0)20 7786 4823/4811

Notes to Editors:

Governance for Owners (GO) is an independent partnership between major financial institutions, shareowners and executives dedicated to adding long-term value for clients by exercising owners’ rights.  There are two main product offerings.  The GO European Focus Fund, which invests in European public companies where value can be added through making use of ownership rights.  The GO Stewardship Services offers intelligent voting and engagement on quoted companies in Europe, the US, Japan, and South East Asia.

Gavin Morris, who holds an MA from the University of Edinburgh, took an MBA in Finance from the University of Chicago after joining Citibank in London in 1978. He went on to work with the corporate strategy consultancy Bain & Co, and, as Chief Executive, United Precision Industries ltd, before being appointed Group Finance Director at Norcros plc in 1993. He joined Alfred McAlpine plc as Group Finance Director in 1996. He subsequently joined IONICA Group plc, and then moved to Philips Electronics where he was CFO of the Lighting division and Chairman of Philips Batteries. After assisting in the restructuring of Citex Group, he became Group Finance Director at D S Smith plc in 2002. During his time at the FTSE250 paper group, the company undertook major restructurings, M&A activity, a successful $200m US private placement and £250m bank refinancing, cross-Group IFRS conversion and successful change of external auditors.  In addition to English, Gavin is fluent in French, German and Spanish.