Reply to thread

well a non-executive  Chairman  , normally gives guidance and advice ( not makes decisions )  so one would expect  only minor ( or no ) changes  if replaced by a non-executive chairman  and any changes would be needed to be voted on by the board as an entity

 HOWEVER the new chairman  MIGHT attract  a new tranche of investors  , and those new investors might agitate for a change  ( i assume the current holders are quite happy with the LIC )

 for example  an ' above-named ' unemployed manager  might attract new  money  but those new investors might favour more activity in the portfolio

 since the retiring chairman  had/has a big influence on 'the brand '  , his impending retirement  should be seen  as something to observe and ponder

 now i am uneasy  about major changes in strategy/mandate  ( unless necessary ) but have been in other LICs  that have disastrously messed with the existing strategy  to the joy of activist investors ( which i hope doesn't happen here )