Hargreaves Lansdown co-founder strikes board nomination deal with firm

Credit: REUTERS/STAFF

British fund supermarket Hargreaves Lansdown has struck an agreement with co-founder Peter Hargreaves to reflect his ongoing interest in the company after leaving the board in 2015.

LONDON, Oct 20 (Reuters) - British fund supermarket Hargreaves Lansdown HRGV.L has struck an agreement with co-founder Peter Hargreaves to reflect his ongoing interest in the company after leaving the board in 2015.

Under terms of the deal, Hargreaves will be entitled to nominate one non-independent, non-executive director for appointment to the board, subject to the regulatory and governance framework observed by the firm.

This agreement and nomination right will remain in place for as long as Hargreaves and his associates control at least 10% of the company's voting rights, the company said.

As a result, Hargreaves has appointed Adrian Collins, former chairman of Liontrust Asset Management to the board.

(Reporting By Sinead Cruise, editing by Lawrence White)

((sinead.cruise@thomsonreuters.com; 020 7513 5026; Reuters Messaging: sinead.cruise.thomsonreuters.com@reuters.net))

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