Paul Masterton joined Foresight Solar's board of directors in November 2024. With deep managerial expertise and strong infrastructure oversight experience, he will help oversee the execution of Foresight Solar's strategy and support our growth ambitions.

In this Q&A, Paul speaks about his background, his interest in joining FSFL, the role of the board, and the opportunities and challenges for investors.

 

Who is Paul Masterton?

My professional career has been defined by curiosity, a desire to learn, and the ambition to bring out the best in myself and in those I work with. Part of the reason I stayed at RR Donnelley for nearly 30 years was because it offered me the opportunity to continue to improve. During my time there, I held roles in sales management, operations and business development in the US, Asia and Europe.

The move to become the CEO of the Durrell Wildlife Conservation Trust and start my non-executive career presented two very different tasks and another great opportunity for growth.

When the Foresight Solar team approached me to be a NED, it appealed to me because I felt there was much I could contribute whilst also learning from my fellow directors and the investment management team. I’m looking forward to getting involved as the fund fully implements its income and growth strategy.

 

What is your professional background?

I spent almost three decades at RR Donnelley, a Fortune 500 company that provides printing, marketing and business communications. In that time, I worked with teams around the world, overseeing large-scale operations and leading innovation initiatives. My last role was managing the business’ European activities, and it was an opportunity to implement the management and governance knowledge I’d gathered, as well as foster sustainable growth.

Over the last several years, I have used that experience in advisory and non-executive positions, including on the board of directors of 3i Infrastructure, the £3.5 billion investment trust. During my tenure, I was involved in the fund’s pivot to a core plus strategy that proved immensely successful for shareholder returns.

 

What made you want to join the Foresight Solar Board of Directors?

I was drawn to Foresight Solar's commitment to long-term value creation for stakeholders and to sustainability.

The business is inherently aligned with the global economy’s need to move away from carbon emissions, and joining the Board allows me to leverage my strategic and operational expertise in the support of an organisation at the forefront of the energy transition.

 

What is the most important part of a Board’s work?

One of the main elements, if not the most important, is ensuring a culture that meets legal and regulatory responsibilities, together with a balanced approach to scrutiny, challenge and support of the company and the investment management team. All this while keeping shareholders and broader stakeholders fully in mind.

 

What challenges do you see for investors in the near term?

In the near term, investors face macroeconomic headwinds, such as higher for longer interest rates and geopolitical instability.

The transition to a lower carbon economy presents risks, but it also offers plenty of opportunities. A government in the UK with a strong majority in Parliament to push through its supportive renewable energy measures, stabilising power prices and falling interest rates – even if not to the level seen in the 2010s – are positive tailwinds for Foresight Solar and I’m confident the fund is well placed to capitalise on the opportunities.