Barker, Barnes step down from Electra board

Barker joined Electra's board in 2010. A senior independent director, she was also acting as chair of the remuneration and nomination committee.

Barker became interim chair in November 2015 after the resignation of Roger Yates, who stepped down following the election of activist shareholder Edward Bramson to the board. Yates had spearheaded the firm's criticism of Bramson and his investment vehicle Sherborne in the ongoing feud between Electra Private Equity and Bramson. Neil Johnson was appointed non-executive chair and director of Electra Private Equity in April, with effect from May onwards.

Barnes had joined the board in March 2013 and was most recently chair of the valuations committee.

Electra Private Equity stated it had mandated a search firm to find two additional independent non-executive directors, one of whom will take the role of senior independent director.

The contract of Electra Partners to be the investment portfolio manager of listed vehicle Electra Private Equity was put on termination notice in late May, as part of an ongoing strategic review set in motion by Bramson in January. Electra Private Equity said in a statement it had triggered the 12-month notice period for the termination of Electra's contract, though it would continue "to explore a range of options including retaining the services of Electra Partners as investment manager under a mutually acceptable agreement".

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