MS International appoints new chairman, CEO in board reshuffle

MS International appoints new chairman, CEO in board reshuffle

Asian shares fall on chipmaker drag, bonds cheer cooler inflation LONDON - MS International plc (MSI) announced today a series of board changes, including the appointment of Anthony Wreford as independent Non-Executive Chairman and Michael O’Connell as Group CEO, both with immediate effect. Michael Bell stepped down from the Board and his role as Executive Chairman after more than 50 years with the Group. Bell will assume the position of Life President, according to a press release statement.

Wreford is a non-executive director and strategic adviser with experience in asset and wealth management, private equity and business advisory. He currently serves as Chair of REIS and adviser to Skybound Capital, St. James’s Place, Corient and Evolved Brands. The company said Wreford has previously provided independent advisory services on recent strategic decisions.

O’Connell was promoted from his position as Group Managing Director, having previously served as Finance Director. In connection with Bell’s appointment as Life President, the company entered into a consultancy agreement for Bell to provide advisory services on an ongoing basis. The agreement has a minimum term of 12 months and can be terminated by either party with three months’ written notice.

Bell will receive a monthly consultancy fee of £12,500, exclusive of VAT. The consultancy agreement is classified as a related party transaction under AIM Rules, as Bell is a substantial shareholder and former director within the last 12 months. The independent directors, after consulting with the company’s nominated adviser Shore Capital & Corporate Limited, determined the agreement is fair and reasonable for shareholders.

The announcement followed the company’s full year results statement released earlier today. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.