By SIMON MOORE 03/02/2010
Will Wyatt is to succeed Tim Ingram as Chief Executive of Caledonia Investments from July 2010. Wyatt has been at Caledonia since 1997 after 3 years in corporate finance at Close Brothers. He became an associate director of Caledonia in 2002 and joined the main board in 2005. Wyatt has also been actively involved with investee companies.
Other Caledonia directors are scions of the Cayzer family, who have considerable experience, but some clan members recently attempted to break up the trust. Part of Wyatt’s CEO rôle will be to manage the intra-family strife of the Cayzers.
The departure of a wise, experienced CEO is a major change for Caledonia and necessitates a review of the management. This follows the departure of Jonathan Cartwright as Finance Director in 2009, a position he had held for 18 years. His replacement Stephen King was only appointed recently, in November 2009.
We will suspend the rating on the trust until we have met and assessed the incoming CEO and the new FD.