Director talk: Stephanie Coxon
Stephanie is chair of Foresight Environmental Infrastructure (FGEN) and a director of the AIC.
In the boardroom
How would you explain your role to somebody new to investment trusts?
The investment manager handles daily portfolio operations, while the board acts as independent custodians for those shareholders. Our mandate is simple: keep strategy on track, ask the probing questions, and protect investors’ capital. Good governance isn't a box-ticking exercise; it is the non-negotiable bedrock of accountability.
What’s the number one skill you bring to the board?
The ability to cut through the noise with commercial rigour and genuine human connection. In a boardroom, it’s remarkably easy to either nod things through, pick holes just to look clever, or be challenging for the sake of it. The real value is distilling complex technical data down to the fundamental risks and strategic truths that actually matter.
Doing that effectively takes constructive challenge delivered with empathy, humility, and, at times, good humour. Boards perform best when egos are left at the door and directors feel safe debating thorny issues openly.
Back your instincts and don’t be afraid to ask the obvious question.
Stephanie Coxon
What is the proudest moment of your career?
Being appointed chair of FGEN. Stepping into the lead role of a FTSE 250 company is a tremendous vote of confidence from the board, the manager and our shareholders. It allows me to bring together years of experience across the investment trust sector with my work on the AIC board, and channel that perspective into delivering long-term environmental and financial value. It’s an enormous privilege.
What’s the most challenging part of your job as a trust director?
Holding your nerve against market volatility while actively welcoming constructive challenge. With real, physical infrastructure, short-term share price swings and macroeconomic noise can be very distracting. Discipline means separating short-term sentiment from underlying asset performance. Picking up the phone to speak honestly with shareholders, especially when conditions are tough, is demanding, but listening actively to their concerns and providing clear, transparent communication during bumpy periods is one of the most vital responsibilities of a chair.
What advice would you offer to new directors?
Back your instincts and don’t be afraid to ask the obvious question. You don't need to speak immediately just to prove you are in the room; take time to read the dynamic around the table first. But if a single footnote or assumption in a 200-page board pack fails your common-sense test, raise it. Nine times out of ten, half the room is wondering the exact same thing – and that is usually where the real risk, or the hidden opportunity, is sitting.
Away from work
What’s your number one desert island disc?
An unapologetic playlist of 1980s and 1990s power ballads. You cannot beat them for fuelling a long run or workout. Give me Queen or Fleetwood Mac with the volume turned up; pure, high-energy fun and impossible to listen to in a bad mood.
Of all the places you have visited, which comes top of the list and why?
Sydney, Australia. Having lived there, it holds a permanent spot in my heart. The harbour, the outdoor energy, and the constant brightness create an optimism that stays with you. I also love the Australian character – direct, grounded, and refreshing in its lack of pretence.
If you had to cook for a dinner party, what would you make?
A spread of homemade pizzas. Entertaining shouldn't feel like a high-wire performance in the kitchen. Keeping it simple and hands-on means the focus stays where it belongs: good food, great friends, and genuine conversation.
What are you terrible at?
Switching off. When you genuinely care about the companies you work with, your brain doesn't just clock out at five. I’ve had to learn to be intentional about stepping away, though heading out for a run along the coast usually clears my head and forces the reset.
What is a hidden talent few people know you have?
Terrible karaoke. My voice hasn't caught up with my enthusiasm, but what I lack in pitch and polish, I more than make up for in absolute commitment and stage presence.
What do you do for fun?
Living in Guernsey, life naturally revolves around the outdoors. I’m an avid runner and spend as much time in or on the water as possible. Running the coastal paths with our dog clears my head, resets my perspective, and brings the clarity needed to tackle the week ahead – and I can always rely on my two young children to bring plenty of fun and laughter every day.
