Will, who joined SIT’s board in May 2013 as a non-executive director, succeeds Douglas McDougall as chairman of the Edinburgh-based trust, which has also announced that its total dividend payout for the year to 31 October will rise by a third to 16p a share.
“The board and I would like to thank Douglas for his leadership and contribution to the Scottish Investment Trust as a director and as chairman,” said Will, a former council member of CBI Scotland who is also a non-executive director of Herald Investment Trust. He was replaced as chair of Shepherd and Wedderburn by Paul Hally in October 2014.
Will added: “SIT offers investors low-cost access to global investment opportunities and has a long track record of dividend growth. I look forward to working with the management team and the board to continue to provide a long-term attractive return for shareholders.”