- Scottish Mortgage Investment Trust asked non-executive director to resign at a board meeting following a disagreement over the appointment of new board members.
- The breakdown in relations on the board comes after a year in which the trust’s share price has tumbled over 30%.
- Amar Bhidé, a director of Scottish Mortgage since 2020, clashed with chair Fiona McBain over the process to appoint two new board members and his assessment of the risks posed by the trust’s investments in unquoted companies.
- Bhidé raised concerns about the portfolio’s exposure to illiquid investments.
- Baillie Gifford’s pioneering shift into venture capital investments more than a decade ago was partly responsible for Scottish Mortgage’s rise to prominence.
Scottish Mortgage seeks non-executive’s exit after boardroom clash
Amar Bhidé says he disagreed with chair over process to appoint two new board members
Harriet Agnew
