UN-supported leading responsible investing organization Principles for Responsible Investment (PRI) announced today that its CEO Fiona Reynolds has decided to step down from her role.
In a post to PRI signatories, Reynolds said:
“This has not been an easy decision—to say I’ve loved my time at PRI would be an understatement. Working alongside all of you, being a part of your RI journey and driving toward a more sustainable, green and just future has no doubt been a highlight of my career and indeed my life. PRI has truly become part of my DNA.
“However, spending nearly a decade in London, so far away from my home in Australia, has been deeply challenging on a personal level. The COVID-19 pandemic has made this more difficult in many ways, particularly with the ongoing closure of borders, and so has hastened my decision. The trade-offs of not being able to spend time with my family, or even being able to reach them if I needed, have simply become too high for me.”
The Principles for Responsible Investment were established by a group of investor signatories in 2006, supported by the United Nations, to aid investors in integrating ESG factors into the investment process. To achieve this goal, the PRI group established a set of specific, voluntary and aspirational principles for investors to follow, including the incorporation of ESG issues into the investment process, and into signatories’ own ownership policies and practices.
Reynolds has been with the PRI since 2013, and has overseen the organization’s growth from around 1,000 signatories to nearly 4,000 signatories, representing more than $110 trillion in AUM today. She has committed to stay on as CEO until the end of the year, in order to ensure a seamless handover to a new CEO.
PRI Chair Martin Skancke said:
“In Fiona’s tenure as CEO of the PRI, she has led the growth in scope and reach of the organisation to investors, policymakers and other stakeholders around the world. In turn, with tremendous commitment, energy and experience, Fiona has also contributed personally to the growth of responsible investing more broadly. We are very sorry to see Fiona step down as CEO, but fully understand her personal wish to be home in Australia with family. As the PRI Board and I commence a search for Fiona’s successor, PRI’s signatories can be assured that we, alongside Fiona and the PRI team, will ensure a seamless transition. We sincerely thank Fiona for her remarkable legacy during her nine years as CEO.”