August 15, 2019 / 3:07 PM / 4 days ago

Burford to replace CFO amid shareholder concerns over her marriage

Aug 15 (Reuters) - Burford Capital, the litigation financing specialist embroiled in a stand-off with short-seller Muddy Waters, on Thursday replaced its chief financial officer after shareholders raised concerns about her marriage to the company’s CEO.

The company, which said it was also in the early stages of seeking a dual U.S. listing, said Elizabeth O’Connell would be replaced by Jim Kilman with immediate effect as part of a management overhaul that will include a formal search for two new independent board directors.

Kilman is a former vice chairman of Morgan Stanley Investment Banking.

Shares of Burford, which have plunged over 30% since Muddy Waters disclosed its short position, reversed course after the statement to trade 6% higher by 1451 GMT. (Reporting by Muvija M in Bengaluru, editing by Kirstin Ridley)

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