NewRiver REIT PLC Board changes (2498E)
08 Febbraio 2018 - 8:00AM
UK Regulatory
TIDMNRR
RNS Number : 2498E
NewRiver REIT PLC
08 February 2018
NewRiver REIT plc
("NewRiver" or the "Company")
Appointment of David Lockhart to Executive Deputy Chairman
Appointment of Allan Lockhart to Chief Executive Officer
On 7 August 2017 NewRiver announced David Lockhart's decision to
take a leave of absence due to ill health. During this period
David's health has continued to improve but he has also considered
his future involvement in the business. Following consultation with
the Board of NewRiver, David has made the decision to step down as
Chief Executive Officer but maintain continued involvement at
NewRiver as Executive Deputy Chairman. This change is effective
from 1 May 2018.
In David's absence the executive responsibilities of the Company
have been shared between Allan Lockhart and Mark Davies. Following
an executive assessment process undertaken by external consultants,
the Board of NewRiver has appointed Allan Lockhart as Chief
Executive Officer, effective from 1 May 2018.
Mark Davies will remain as the Company's Chief Financial
Officer, retaining all existing responsibilities and taking on an
enhanced operational role.
As Executive Deputy Chairman, David's role will include
supporting Allan and Mark as they drive NewRiver forward, advising
on strategy, business development, investor relations and talent
mentoring.
Allan has over 25 years' experience in the UK retail real estate
market, co-founded NewRiver with David in 2009 and as Property
Director has been responsible for the Company's acquisition and
active asset management activity. More recently he has also
overseen the Company's risk-controlled development portfolio, and
played an active role in NewRiver's investor relations
programme.
Paul Roy, Non-Executive Chairman commented: "During his time as
Chief Executive Officer, David has successfully guided NewRiver
from its GBP25 million IPO on AIM in 2009 to become a FTSE 250
Premium Listed company with a high quality portfolio valued in
excess of GBP1 billion. I respect his decision to stand down as
Chief Executive Officer but I am delighted he is staying on in his
new role, providing continued insight and experience to the
Group.
Allan co-founded NewRiver with David, and the Board are
confident he has the ability, determination and vision to lead the
group."
David Lockhart commented: "I am delighted to take up the post of
Executive Deputy Chairman and I feel I have much to contribute to
NewRiver going forward. As co-founder, shareholder and colleague I
want the very best for NewRiver and I look forward to playing an
important role in the next stage of the NewRiver journey."
Allan Lockhart commented: "Over the last nine years NewRiver
REIT has established a leading position in the UK retail &
leisure sector, and I look forward to leading the Company through
the next exciting phase of its growth and development."
There is no new information to be disclosed pursuant to Listing
Rule 9.6.14R
For further information
+44 (0)20 3328
NewRiver REIT plc 5800
Paul Roy (Non-Executive
Chairman)
Mark Davies (Chief Financial
Officer)
Will Hobman (Head of Investor
Relations)
+44 (0)20 7251
Finsbury 3801
Gordon Simpson
This announcement contains inside information as defined in
Article 7 of the EU Market Abuse Regulation No 596/2014 and has
been announced in accordance with the Company's obligations under
Article 17 of that Regulation. This announcement has been
authorised for release by the Board of Directors.
About NewRiver
NewRiver REIT plc (ticker: NRR) is a premium listed REIT on the
London Stock Exchange and a constituent of the FTSE 250 and EPRA
indices. The Company is a specialist real estate investor, asset
manager and developer focused solely on the UK retail and leisure
sector.
Founded in 2009, NewRiver is one of the UK's largest
owner/managers of convenience-led community shopping centres with a
property portfolio of GBP1.2 billion principally comprising 33 UK
wide shopping centres together with further nationwide retail and
leisure assets. The portfolio totals 8 million sq. ft. with over
2,000 occupiers, an annual footfall of 150 million and a retail
occupancy rate of 97 per cent. Visit www.nrr.co.uk for further
information.
LEI number: 2138004GX1VAUMH66L31
This information is provided by RNS
The company news service from the London Stock Exchange
END
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