(Bloomberg) -- LetterOne named Franz Humer to its board after the Luxembourg-based investment firm saw a wave of departures in the fallout from Russia’s invasion of Ukraine.

Humer is a former chair of Diageo Plc and Roche Holding AG. LetterOne announced the addition in an emailed statement.

LetterOne investors Mikhail Fridman and Petr Aven resigned from the company last week after they were sanctioned by the European Union. Andrei Kosogov, Alexei Kuzmichev and German Khan stepped down on Monday.

“I am totally committed to strong, transparent and independent governance,” Chairman Mervyn Davies said in the statement. “Franz’s deep experience and expertise will be invaluable.”

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