LONDON, UK: Intuitive Investments Group plc (IIG), a closed-end investment company focused on the life sciences sector, has announced the appointment of Sir Nigel Rudd as its next chairman.

Sir Nigel, a veteran of the UK business scene who has chaired several FTSE 100 companies, will take over the role from Julian Baines, who will remain on the board as an independent non-executive director.

The change will take effect when IIG is admitted to the Specialist Fund Segment of the London Stock Exchange’s Main Market, which is expected to happen around 8 August 2023.

IIG, which was founded in 2019 and is based in London, invests in early-stage and growth-stage life sciences companies, with a focus on biotechnology, medical devices and diagnostics.

The company said Sir Nigel would bring his extensive experience and network to support its growth strategy and portfolio development.

Sir Nigel has a track record of leading and investing in successful businesses across various sectors, including automotive, retail, engineering, aviation and aerospace.

He has chaired companies such as Pendragon, Pilkington, Alliance Boots, Heathrow, Invensys, Business Growth Fund, Signature Aviation and Meggitt. He also served as deputy chairman of Barclays Bank for more than 12 years.

He is currently a non-executive director of Sappi Limited, a renewable resource company. He is also known for his role in the 1980s at Williams plc, which he turned into a FTSE 100 industrial holding company.

Sir Nigel said: “I am delighted to be joining IIG as chair and look forward to working with the team on the exciting opportunities that lie ahead.”

Mr Baines said: “I look forward to working with Sir Nigel as IIG’s next chair. Sir Nigel has tremendous know-how with growing companies – it is a testament to our ambition that we have been able to attract someone of Sir Nigel’s calibre and experience.”

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