Sherborne's chairman Brindle to retire

Ian Brindle is retiring as chairman of Sherborne Investors. The 69-year-old City veteran will stand down from the activist shareholder next month after an eventful partnership with Sherborne's founder, Ed Bramson, whom he has joined on a number of UK companies as chairman following successful boardroom coups, such as Elementis, Spirent and 4imprint.

Earlier this year it emerged that Mr Brindle – a former boss of PricewaterhouseCoopers, the accountancy firm – was spearheading Sherborne's stake-building in 3i.

Britain's oldest private-equity firm was put on bid alert when Sherborne acquired a near-4 per cent stake.

Talmai Morgan, a non-executive director at Sherborne, which overhauled the fund manager F&C in 2011, will become the company's new chairman.