Hipgnosis appoints former Round Hill chair
Round Hill agreed to a $468.8m takeover last month, which will see its 51 catalogues absorbed by Concord.
Last month, previous chair Andrew Sutch was ousted, following the failure of his re-appointment vote at the trust's annual general meeting. He was due to step down next year.
The trust also saw the failure of its continuation vote, meaning that the board will put forward proposals for the reconstruction, reorganisation or winding-up of the trust to shareholders for their approval within the next six months.
Round Hill Music Royalty fund agrees to $470m takeover offer
Round Hill agreed to a $468.8m takeover last month, which will see its 51 catalogues absorbed by Concord. It was seen as the closest competitor to SONG.
Naylor is also currently CEO of life sciences trust Intuitive Investments Group, and non-executive director of Light Science Technologies.
Meanwhile, Francis Keeling was appointed as a non-executive director of SONG, who also previously sat on the board of Round Hill.
Hipgnosis Songs scraps dividends until next financial year
Sylvia Coleman, senior independent director of SONG, said: «On behalf of the board, we are delighted that Robert and Francis have agreed to join Hipgnosis Songs Fund.
»Robert and Francis's appointments follow extensive engagement with shareholders, and their experience and knowledge working with investment companies, most notably at Round Hill Music Fund, will be invaluable to Hipgnosis as we look ahead to the next chapter."
Naylor added: «I am excited to be joining Hipgnosis Songs Fund. I look forward to working with the Board and shareholders as we conduct the strategic review and put forward proposals for the future of the company.»
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