The Board of Reuters Group has appointed two senior business women, Penny Hughes and Lawton Fitt, as non-executive directors with immediate effect. The Board also announced that Roberto Mendoza, who has served for six years, has decided to stand down.
Lawton Fitt, 50, brings a wealth of experience from the financial services market. An American national, she spent 23 years with Goldman Sachs & Co working in both New York and London with particular focus on the high tech sector. During this time she became the first woman to be made a partner in the firm's equity division.
Ms Fitt has been named in Fortune Magazine's list of the 50 Most Important Women in American Business, and in Business Week's list of the 25 Most Influential People in Electronic Business. She is currently Secretary of the Royal Academy of Arts with responsibility for managing the 236 year old organisation. She is also non-executive director at technology firm CIENA Corporation, and trustee of several not-for-profit organisations including contemporary arts centres in New York and Berlin. She has a degree in European History from Brown University and MBA from the University of Virginia.
Penny Hughes, 44, is an experienced business professional with excellent knowledge of consumer and media markets with particular expertise in international marketing. She spent 10 years with Coca-Cola initially as Marketing Director and then went on to become President, Coca-Cola Great Britain and Ireland.
Over the last 10 years Ms Hughes has gained experience as a non-executive director on the boards of a number of significant international businesses. Currently she serves on the board of GAP Inc, being the only non-American on that board, Vodafone PLC, Skandinaviska Enskilda Banken and Trinity Mirror PLC. She is also on the advisory board of Bridgepoint Capital. She has a first class honours degree in Chemistry from Sheffield University.
Roberto Mendoza has decided, with immediate effect, to leave the Reuters Board after six years of service. He plans to spend more time focussing on growing his young company, Integrated Finance Limited.
These changes follow the appointment of Ken Olisa as non-executive director in April 2004.
Sir Christopher Hogg, Reuters Chairman, said, "I am delighted that Lawton and Penny will be joining the Reuters Board. Their qualities and achievements will enable them to make a powerful contribution to the board in the next stage of Reuters development."
"Roberto has been a much valued member of the board through a difficult period. We shall all miss his commitment and skills. On the board's behalf, I thank him warmly and wish him well."