Intuitive Investments Group plc (AIM:IIG) (IIG) saw its shares gain 10% to 5.50p in early trade on Tuesday after the investment company revealed that it has named Sir Nigel Rudd as its next chairman.
Rudd has chaired a number of listed companies over the past 25 years, such as automotive retailer Pendragon, glazing manufacturer Pilkington, pharmacy group Alliance Boots and Heathrow airport, and has also been deputy chairman of Barclays.
At IIG, he will replace Julian Baines, who will become an independent non-executive director of IIG. Rudd will also join the company’s remuneration committee and chair the nominations committee.
Commenting on his appointment in a statement, Rudd 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."