As part of an orderly succession process, a search company was commissioned to find a new director for European Assets Trust PLC. Following a rigorous selection process Stuart Paterson has been appointed to the Board with effect from 22 July 2019. The first director to retire under the succession plan will be Professor Robert van der Meer, Deputy Chair and Chair of the Audit and Risk Committee. It is anticipated that Robert will retire at the conclusion of the Company's Annual General Meeting in May 2020 and that Stuart will assume the role of Chair of the Audit and Risk Committee at that time. Stuart is a co-founder and partner of Scottish Equity Partners. He is an experienced technology investor with over 20 years of equity investing in European private companies.