Jeannie Drake has stepped down as deputy chairman designate of Nest (National Employment Savings Trust) Corporation following her appointment as a Labour Peer to the House of Lords.
Drake was set to formally take on the role today [5 July], when the Personal Accounts Delivery Authority (Pada) was wound up and replaced with the Nest Corporation.
In Pada’s annual report, published this month, chief executive Tim Jones said: “Following the end of the financial year Jeannie Drake was appointed a Labour Peer to the House of Lords.
“Pada has benefited enormously from the expertise Jeannie Drake has been
able to bring to the organisation. Regrettably, her appointment means that she will not be able take up her role as deputy chair of Nest Corporation.”
Drake was appointed as Pada’s first non-executive member in September 2007. She became acting chair with effect from 6 October 2008 and was recruited along with eight other trustee members designate with effect from 1 April 2010.
Drake has currently serves on the board of the Pension Protection Fund and the Equal Opportunities Commission. Until September 2009, she served on the board of the Employment Appeals Tribunal.
It remains unclear whether or not Drake will be replaced.
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