Big Society Capital (BSC), the world's first social investment bank, has begun the process of searching for a new Chair. Sir Ronald Cohen made it clear that he would be the first Chair to help set up Big Society Capital and that he intended to step down from the role to be a director once Big Society Capital had become fully operational. This phase of the development of the organisation will be completed by the end of 2013.
A search firm has been appointed and it is anticipated that a new Chair will be in place by the beginning of 2014.
Sir Ronald Cohen, said:
“As Big Society Capital approaches its first birthday, with an impressive team and a number of innovative investments under its belt, now is the appropriate time to plan for the recruitment of a Chair that can take the baton on 1 January 2014. I will remain involved in guiding Big Society Capital in the future.”
Nick O’Donohoe, CEO of Big Society Capital, said:
“Since the idea of a Social Investment Bank was first proposed by the Social Investment Task Force chaired by Sir Ronald in 2000, he has been the visionary leading the way for the establishment of Big Society Capital as the first such organisation of its type in the world, here in the UK. We all owe him a huge debt of gratitude for his commitment and perseverance and for his role in establishing Big Society Capital as an operational organisation. We expect that Sir Ronald will remain as a Non-executive director and on the Investment Committee of Big Society Capital.”