3i plans Hogg succession
Published Wednesday, 25 February 2009 in People.
3i has appointed headhunters to hire two new non-executive directors to pave the way for Baroness Hogg to step down as chairman. One of the two new non-execs will be designated to take over as chairman when Lady Hogg leaves in December 2010, according to the Financial Times.
The decision follows the ousting of Philip Yea as chief executive of the listed firm this month, and his replacement with Michael Queen, formerly managing partner of 3i’s infrastructure arm.
Lady Hogg is a former chief secretary to the Treasury and paymaster-general. She is an economist and journalist, whose roles before 3i included economics editor of the Independent. She was also head of the prime minister’s policy unit in John Major’s government, and is chairman of the Nominations Committee and the Valuations Committee, and a governor of the London Business School. She has been a non-executive director at 3i since 1997, replacing Sir George Russell as chairman in 2002.
