The Board of The City of London Investment Trust plc announced the appointment of Sir Laurie Magnus as a non-executive Director with effect from 1 March 2020. Sir Laurie Magnus is a Senior Adviser at Evercore Partners, Sir Laurie is Chairman of Pantheon International plc and JP Morgan Multi Asset Trust Plc. It is the Board's intention that Sir Laurie Magnus will become Chairman of the Company following the retirement of Philip Remnant at the Annual General Meeting in October 2020. The Board also announces that Simon Barratt is to retire from the Board on 1 January 2020.