The board of Electra Private Equity has decided to terminate the exclusive outsourcing agreement with Electra Partners for the management of all of its operations and investments, while Edward Bramson has been appointed interim CEO.
In an update on its strategic review announced in January, the board announced a surprise move to terminate the contract with Electra Partners upon the completion of the notice period of 12 months. The statement said: "To provide the board with the flexibility to put in place any potential changes as an outcome of the review without any undue delay, the board has served notice of termination of the management and investment guideline agreement and the related limited partnership agreement under which management of the company's operations and investments is wholly outsourced to Electra P...
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