Monks Investment Trust chairman to step down

Monks Investment Trust Chairman Karl Sternberg has indicated that he will not stand for re-election at the annual general meeting in September 2025.

According to the 2024 annual report, the board of directors asked Sternberg to remain as chairman after the 2024 annual general meeting. It plans to appoint a new chairman in mid-2025 and will make a further announcement on succession plans “in due course.”

On September 5, Sternberg will take up a new role as a non-executive director of the Capital Gearing Trust.

Prior to Monks, Sternberg was Chairman of JP Morgan Income & Growth Investment Trust and Senior Independent Director of Alliance Trust PLC.

The trust currently trades at a 10.8% discount and has a total share price return of 25% over the past five years, compared with the global AIC sector average of 52.1%.

See also: Monks: Analysts weigh in after trust lags benchmark for third year in a row