Sally Bridgeland and Lindsey Brace Martinez will be joining the board as Mark White, who has served on the board for over seven years, is stepping down to “fulfil other commitments”.

Bridgeland, currently a non-executive director of Royal London, will join the remuneration committee and the audit and risk committee. She brings over 20 years’ experience in the UK pensions industry, including her role as chief executive of the BP Pension Fund from 2007 to 2014.

“On behalf of the company I would like to thank Mark White for his commitment and outstanding contribution to the growth of the business over the last seven years. We are delighted to welcome Sally and Lindsey to the board. Sally has a deep knowledge of governance, risk analysis, assessment and strategic planning,” said Keith Falconer, chairman.

Martinez, based in the US, has over 25 years’ experience in investment advisory, natural resources investments, and management consulting. She was most recently managing director of global client service and relations at Cambridge Associates. She will join the remuneration committee.

“Lindsey brings exceptional experience in investment advisory across a wide range of asset classes including natural resources and in sustainability strategies. Her knowledge of the US market will be invaluable as we continue to develop our business in the region,” Falconer said.

Impax, which is focused on resource efficiency and environmental markets, manages around £3 billion ($4.7 billion) for investors globally.