Godfrey has stepped down as director general but will continue to work with the AIC on a consultancy basis to ensure a smooth transition. Deputy director generaI Ian Sayers will be acting director general reporting to the board until a permanent appointment is made.
Godfrey says: “It has been an honour and a privilege to lead the AIC and to represent the investment company sector. It is a role which I have enjoyed immensely. But after 11 years, in which the AIC has been incredibly successful, I need to seek a new challenge that will stretch me again and, I hope, have a broader impact.
“It would not be possible or fair to the AIC to progress these plans whilst maintaining a full-time commitment to the Association and so I am grateful to the Board for allowing me to step back from my management duties whilst ensuring a successful transition through a consultancy arrangement. I wish the AIC and all the team well in the future.”
AIC chairman Carol Ferguson says: “On behalf of the Board, I would like to thank Daniel for his enormous contribution to the industry. Daniel has raised the profile of the sector considerably, and has steered the industry through some difficult times, not least the split capital crisis, whilst staving off some very real regulatory threats along the way. Throughout this time, Daniel never lost sight of what the AIC’s main focus should be – representing members and their shareholders – and he put this at the heart of everything the AIC did.”