LONDON, 2 April 2013 – The Principles for Responsible Investment (PRI) Association has announced that Dr. Wolfgang Engshuber has decided to step down as chair of its Advisory Council when his current 3-year term expires in 2014. A search process has now begun to find his successor. Dr. Engshuber will remain on the PRI Board but has stepped down as its chair. The changes were agreed at the recent joint meeting of the PRI’s Board and Advisory Council in Tokyo on 11-15 March.
Dr. Engshuber, who has acted as chair of both the Board and Council since 2011, will now focus on developing the PRI’s new strategic focus and fostering new partnerships and collaborations with the United Nations. The search to find a successor to Dr. Engshuber will be coordinated by a Council committee, led by Paul Abberley, Council member and CEO of Aviva Investors, London.
Dr. Engshuber has overseen the PRI’s continued rapid growth to become the largest global investor network supporting institutional investors seeking to incorporate ESG issues into their investment processes, now with nearly 1,200 signatories.
In Tokyo, the Board appointed Glen Saunders to be its interim chair. Glen has been a member of the new PRI Board since its creation in 2010, having served on the previous Board since 2006. He was previously a board director of the Anglo-Dutch Triodos Bank and a director of the New Zealand Superannuation Fund.
“I am proud of the PRI’s many achievements. By beginning the search for my successor now, we can ensure the transition is a smooth, well-managed process,” said Dr. Engshuber. “I look forward to working with my fellow Board and Advisory Council members, and specifically the new Board acting chair, Glen Saunders, and its Executive Director James Gifford and the PRI’s new Managing Director, Fiona Reynolds, over the coming year as the Initiative casts its sights ever more strongly to support signatories seeking to embed responsible investment within their organisations and make capital markets more sustainable.”
Note to editors:
The PRI Initiative is an investor initiative in partnership with UNEP FI and the UN Global Compact. Until 30 March 2010, it was administered under the Foundation for the Global Compact in New York. Since then, the Initiative has been run under a UK-domiciled, incorporated, non-profit organisation, PRI Association Ltd.
The PRI’s legal structure consists of a Council of 13 members elected by PRI signatories, two representatives of the UN Global Compact and the UN Environment Programme, and its appointed Chair. The nine asset owner members of the Council appoint the fiduciary Board of PRI Association Ltd.
The Council is responsible for setting the PRI’s overall long-term direction and strategy. The 7-person Board, in consultation with the Council, is responsible for overseeing the implementation of the PRI’s strategy, its finances and operations. Further information about PRI’s governance structure and detailed biographies for Board and Council members are available on the PRI website: http://www.unpri.org/about-pri/pri-governance/
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