The board announced the appointment of Timon Drakesmith as a non-executive director of The Merchants Trust PLC, effective from November 1, 2016. Timon is an executive director and Chief Financial Officer of Hammerson plc. He is also a non-executive director of Value Retail PLC, and is Chairman of VIA Outlets advisory and investment committees, and of the British Property Federation's finance committee. Timon will be a member of the Audit Committee, the Nomination Committee and the Management Engagement Committee on appointment. He will take on the role of Chairman of The Audit Committee in place of Mike McKeon from the date of his appointment.