Terry Smith floats Fundsmith head of research as potential successor
Fundsmith CEO has outlined plans to redistribute his majority stake to staff when he eventually departs
Fundsmith CEO Terry Smith has laid out plans to hand over his share of the business to staff when he eventually steps down and floated head of research Julian Robins as a potential successor.
Although Smith is not stepping down from the investment boutique he founded over a decade ago, he outlined his plans for the eventuality at the Fundsmith Equity AGM yesterday.
Smith named head of research Robins, who has been at Fundsmith since its inception in 2010, as “the first line of defence in terms of succession”. Robins previously worked for BZW both in London and New York, before founding Collins Stewart’s New York office in 1999.