BBGI Global Infrastructure SA on Friday said co-Chief Executive Officer Frank Schramm will retire after 12 years in the role ‘for personal reasons’, effective on January 31.

The Senningerberg, Luxembourg-based infrastructure investment company said Duncan Ball will remain as sole CEO.

Additionally, BBGI said its current finance chief, Michael Denny, will take on the role of chief operating officer in addition to his CFO duties with effect from February 1.

Commenting on his departure, Schramm said: ‘It has been a pleasure and privilege to provide leadership alongside Duncan and Michael to BBGI over the last 12 years, and I am immensely proud of what the BBGI team has accomplished during my time as co-CEO.’

Chair Sarah Whitney said: ‘I would like to express the board’s gratitude to Frank for the significant contribution he has made to the business over the last 12 years.

‘Frank has been an exemplary leader and, alongside Duncan as Co-CEO and Michael as CFO, has overseen our successful strategy of constructing a high-quality portfolio of core social infrastructure assets, which continue to deliver a strong and resilient performance.’

Shares in BBGI were trading down 0.6% at 133.01 pence each in London on Friday morning.

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