Hargreaves Lansdown chair to step down at AGM
Deanna Oppenheimer (pictured), steps down after six years leading the company, during which she has faced an increasing amount of pushback from shareholders over her leadership of the DIY-investment platform.
In an stock exchange notice, the firm said that Oppenheimer's resolution to seek re-election as director of the company had been withdrawn.
She is set to be replaced by Alison Platt, who subject to shareholder and regulatory approval, will join the platform's board early next year.
Penny James has been appointed interim chair during the approval period and will chair the upcoming AGM.
Consumer Duty risks drive Hargreaves Lansdown and AJ Bell 'Sell' rating from UBS
Platt is currently Dechra Pharmaceuticals' chair and is a non-executive director of Tesco.
Oppenheimer steps down after six years leading the company, during which she faced an increasing amount of pushback from shareholders over her leadership of the DIY-investment platform.
Last year, a third of HL's shareholders, including co-founder Peter Hargreaves, opposed Oppenheimer's re-election amid concerns about the company's leadership and cost management, with Hargreaves saying she had «presided over a disaster».
Yesterday, Glass Lewis, a proxy voting adviser, voiced fresh concerns about the group's leadership as it recommended HL's shareholders not to approve Oppenheimer's re-election.
Hargreaves platform was contacted about Glass Lewis' concerns but had no comment.
Hargreaves Lansdown set to fall out of FTSE 100
The firm is currently set to fall out of the FTSE 100 after 12 years in the index, according to the latest review.
It reported lower growth across the business in the third quarter of 2023, although it saw continued client growth during the
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