Apax Global Alpha Limited (LON:APAX) has confirmed that with effect from 1 July 2024, Tim Breedon CBE will retire from his position as Chairman and Director of the Company as part of succession planning and board rotation. Tim who has been Chairman of AGA for nine years, since its Initial Public Offering in 2015, has been instrumental in overseeing the Company’s growth during that period.
As previously announced Karl Sternberg, who was formally appointed to the Board of Apax Global Alpha with effect from 1 March 2024, will succeed Tim as Chairman, effective 1 July 2024. In taking over the role of Chairman, Karl will also step down as a member of the Audit Committee. Karl has significant investment trust experience, and he is currently Chairman of Clipstone Industrial REIT plc and Monks Investment Trust plc.
Commenting on Tim’s retirement from the Board, Karl Sternberg said: “In his role as Chairman of Apax Global Alpha, Tim has overseen the Company’s strategic direction since its IPO in 2015. During that time, AGA has grown Adjusted Net Asset Value from €878m at 30 June 2015 to €1.3bn at 31 March 2024. The Board would like to express its gratitude for his contribution.”
