Richard Stroud and Terence Prideaux are to join its trustee board. Richard Stroud, who has been elected as a member nominated director, has worked in the pensions industry for over 40 years and is a Fellow of the Pensions Management Institute. Previously, he was responsible for administering two large pension funds until 2007. He is also an independent trustee of a commercial pension fund. Mr Stroud replaces Catherine Howarth, who stood down as a director on 30 June.