20 Mar 2020
Sir Gerry Grimstone has been appointed by the British Government as a Lord and Minister of State, serving jointly at the Department for International Trade and the Department for Business, Energy and Industrial Strategy. In connection with his new role, Sir Gerry Grimstone will step down as Chairman of Investcorp and Aberdeen Standard Investments (ASI) joint-venture and as a member of the Investcorp Holdings Board of Directors, with immediate effect.
Investcorp and ASI will commence a process to identify a new Chairman whilst continuing to focus on the multitude of Gulf infrastructure opportunities that exist as the GCC region continues to develop at pace.
Mohammed Alardhi, Executive Chairman of Investcorp, commented, “We would like to thank Sir Gerry for his great contribution to our business to date and wish him much success in his new position in Government. He remains a highly respected and valued friend of Investcorp.”