DEPARTMENT FOR
BUSINESS, ENTERPRISE AND REGULATORY REFORM News Release (2008/090)
issued by The Government News Network on 7 May 2008
The Chairman of
the Shareholder Executive, Philip Remnant, has today announced the
creation of a new Advisory Group to the Shareholder Executive.
The new group will oversee the work of the Shareholder Executive
and will ensure that it fulfils its mission. This will include:
* Ensuring the Shareholder Executive is meeting the objectives
set out in its business plan
* Monitoring the Shareholder Executive's impact on its
relationship with its portfolio companies, Whitehall departments
and external constituencies
* Suggesting improvements in the way the Shareholder Executive operates
* Identifying and learning from the Shareholder Executive's activities.
The members of the group are:
* Claudia Arney: Ex-Director, HM Treasury's Enterprise &
Growth Unit
* Dominic Murphy: a partner at Kohlberg Kravis Roberts
* Anthony Watson: Non Executive Director of Vodafone.
Philip Remnant said:
"I am delighted to have attracted such distinguished
individuals to form our new Advisory Group. They will play an
invaluable role in challenging our performance and ensuring that
the Shareholder Executive fulfils its mission."
Notes for Editors:
1. The Group is an internal advisory group set up to advise the
Chairman of the Shareholder Executive on the work of the
Shareholder Executive. The appointments are not ministerial or
public appointments and are part-time and unpaid.
2. The Shareholder Executive was formed in 2003 to improve
fundamentally the government's performance as a shareholder
in businesses. It currently has a portfolio of 27 businesses. It
also acts as a source of corporate finance and corporate
governance advice across Government.
3. The Shareholder Executive's mission is to ensure that
Government is an effective and intelligent shareholder in
business. It works with the boards and management teams of
Government-owned businesses to create long-term shareholder value.
4. The first meeting will be held on 9 May 2008 and the group
will meet approximately 4 times a year.
5. Further
appointments may be made in due course.
6. Until February 2008 Claudia Arney was Director of the
Enterprise and Growth Unit at HM Treasury. She joined HM Treasury
from Goldman Sachs. Prior to working at Goldman Sachs, Claudia
was CEO of TheStreet.co.uk, and had worked at Pearson PLC, the
Financial Times and McKinsey. She is a Non-Executive Director of
Partnerships UK.
7. Dominic Murphy has operated within private equity for over 14
years. He joined KKR in 2005 and currently serves on the board of
directors at Alliance Boots. Formerly he was a partner at Cinven.
8. Tony Watson, who retired as Chief Executive of Hermes Pensions
Management in January 2006, is currently Chairman of the Marks
& Spencer Pension Trust Ltd and the Strategic Investment Board
(NI) Ltd, and a non executive director of Vodafone Group Plc,
Hammerson plc and the Witan Investment Trust Plc.
9. The Department for Business Enterprise and Regulatory Reform
helps UK business succeed in an increasingly competitive world. It
promotes business growth and a strong enterprise economy, leads
the better regulation agenda and champions free and fair markets.
It is the shareholder in a number of Government-owned assets and
it works to secure, clean and competitively priced energy supplies
Department for Business, Enterprise & Regulatory
Reform
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Public enquiries +44 (0)20 7215 5000
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http://www.berr.gov.uk