SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 Under
the Securities Exchange Act of 1934
For the month of March, 2006
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Commission File Number 001-13908
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AMVESCAP PLC
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(Translation of registrant's name into English)
30 Finsbury Square, London EC2A 1AG, ENGLAND
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
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Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- N/A
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Description of document filed: Directorate Change
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For Immediate Release
Contact: Doug Kidd, Managing Director, Corporate Communications
Phone: +1 404 479 2922 (U.S.)
AMVESCAP CHAIRMAN CHARLES BRADY WILL STEP
DOWN AFTER ANNUAL GENERAL MEETING
REX ADAMS TO BECOME CHAIRMAN
London--March 3, 2006-- AMVESCAP PLC today announced that Charles W. Brady (70)
has decided to step down from his position as chairman of the Board of Directors
of AMVESCAP at the conclusion of the company's Annual General Meeting on April
27, 2006. Mr. Brady will be succeeded as chairman by Rex Adams (65) who has been
a non-executive director of the company since November 2001.
"With AMVESCAP having successfully resolved the challenges of the recent past
and with Marty Flanagan and his management team providing strong leadership that
is growing AMVESCAP's business momentum, I have decided that the conclusion of
our upcoming Annual General Meeting is the appropriate time to step down from
AMVESCAP's Board," said Charles W. Brady. "I am grateful for the opportunity to
serve our company and particularly appreciate the support of the many people
with whom I have had the privilege to work.
"AMVESCAP is very fortunate to have a proven leader with Rex Adam's global
business experience and expertise to lead our Board going forward," added Mr.
Brady. "I have every confidence in AMVESCAP's future success."
"I am honored to be following the long and distinguished service of Charlie
Brady as chairman of our Board of Directors. As the founder of INVESCO and
architect of the combination of companies that formed AMVESCAP, Charlie Brady
created one of the first truly independent global investment managers through
his vision and determination," said Rex Adams. "Since he became chief executive
in 1992 through to February 2006, AMVESCAP has delivered total shareholder
returns equating to nearly three times the returns of the FTSE 100 index and
approximately 2.8 times that of the S&P 500. More recently, during a
particularly challenging period for the company, Charlie demonstrated
exceptional executive leadership, which culminated in the successful recruitment
of an acknowledged industry leader as our new chief executive officer. I am
grateful that AMVESCAP will continue to be able to benefit from Charlie's sound
counsel.
"The Board and I share Charlie's confidence in the company's management and are
dedicated to continuing AMVESCAP's commitment to provide enduring solutions for
our clients and build value for our shareholders," added Rex Adams. "This
transition will mark the final step in the implementation of a carefully
developed multiyear succession planning process which has successfully
transferred management from the founding members of AMVESCAP to the next
generation of leadership."
(more)
At the request of the Board, Mr. Brady, who has been chairman of the company
since 1992, will remain an employee for a period of time to ensure the continued
and effective transition to a non-executive chairman. In honor and recognition
of his years of distinguished leadership of the company, the Board unanimously
has conferred upon Mr. Brady the honorary title of "Chairman Emeritus."
Following a 30-year career with Mobil Corporation, Mr. Adams was dean of the
Fuqua School of Business at Duke University from 1996 to 2001. He joined Mobil
International in London in 1965 and served as vice president of administration
for Mobil Corporation from 1988 to 1996. Mr. Adams received a B.A. magna cum
laude from Duke University. He was selected as a Rhodes scholar in 1962 and
studied at Merton College, Oxford University. Mr. Adams serves on the Boards of
Directors of Allegheny Corporation, the Public Broadcasting Service (PBS) and
Vintage Petroleum.
Additionally, in accordance with the Board's retirement policy, Mr. Bevis
Longstreth (72) will not stand for re-election at the Annual General Meeting. He
will be succeeded as chairman of the Audit Committee by Mr. Thomas Presby (66).
Dr. Thomas Fischer (58) has announced he will not seek re-election to the Board
due to other extensive work commitments.
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AMVESCAP is a leading independent global investment manager, dedicated to
helping people worldwide build their financial security. Operating under the
AIM, INVESCO, AIM Trimark, INVESCO PERPETUAL and Atlantic Trust brands, AMVESCAP
strives to deliver outstanding products and services through a comprehensive
array of enduring investment solutions for our retail, institutional and high
net worth clients around the world. The company is listed on the London, New
York and Toronto stock exchanges with the symbol "AVZ." Additional information
is available at www.amvescap.com.
This release may include statements that constitute "forward-looking statements"
under the United States securities laws. Forward-looking statements include
information concerning possible or assumed future results of our operations,
earnings, liquidity, cash flow and capital expenditures, industry or market
conditions, assets under management, acquisition activities and the effect of
completed acquisitions, debt levels and the ability to obtain additional
financing or make payments on our debt, regulatory developments, demand for and
pricing of our products and other aspects of our business or general economic
conditions. In addition, when used in this report, words such as "believes,"
"expects," "anticipates," "intends," "plans," "estimates," "projects" and future
or conditional verbs such as "will," "may," "could," "should" and "would," or
any other statement that necessarily depends on future events, are intended to
identify forward-looking statements.
Forward-looking statements are not guarantees of performance. They involve
risks, uncertainties and assumptions. Although we make such statements based on
assumptions that we believe to be reasonable, there can be no assurance that
actual results will not differ materially from our expectations. We caution
investors not to rely unduly on any forward-looking statements. In connection
with any forward-looking statements, you should carefully consider the areas of
risk described in our most recent annual report on Form 20-F, as filed with the
United States Securities and Exchange Commission (SEC). You may obtain these
reports from the SEC Web site at www.sec.gov.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
AMVESCAP PLC
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(Registrant)
Date 3 March, 2006 By /s/ Michael S.Perman
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(Signature)
Michael S. Perman
Company Secretary