SEGRO PLC SEGRO ANNOUNCES BOARD AND MANAGEMENT CHANGES (0747B)
28 Gennaio 2020 - 8:01AM
UK Regulatory
TIDMSGRO
RNS Number : 0747B
SEGRO PLC
28 January 2020
28 January 2020
SEGRO ANNOUNCES BOARD AND MANAGEMENT CHANGES
SEGRO is today announcing a number of senior leadership changes,
with Phil Redding, Chief Investment officer, stepping down from the
Board at the end of January and leaving the business at the end of
April 2020 following the transitioning of his responsibilities.
Responsibility for disciplined capital allocation and portfolio
planning will be integrated with a newly formed Strategy,
Investment and Innovation function reporting to Soumen Das, Chief
Financial Officer. Local investment activities will be embedded
within the operating teams, alongside the existing asset
management, leasing and development functions, reporting to the six
Business Unit Directors under the leadership of Andy Gulliford,
Chief Operating Officer.
Phil Redding joined SEGRO in 1995 and his most recent roles
included Business Unit Director for the London portfolio and Chief
Investment Officer since 2011. He has been on the Board since 2013.
Whilst responsible for the London portfolio he had a major role in
the acquisition of Brixton plc in 2009 and the acquisition of a 50
per cent stake in the Airports Property Partnership in 2010. As
Chief Investment Officer, Phil had an instrumental part in SEGRO's
portfolio re-positioning exercise which saw the Group sell, acquire
or develop more than GBP8 billion of real estate. He also led the
creation of our SELP joint venture which has grown its assets under
management from under EUR1 billion at inception in 2013 to over
EUR4 billion today. More recently, Phil led the acquisitions of the
Vailog and Roxhill development platforms.
David Sleath, Chief Executive, said:
"Phil has played a key role in the development of the Group,
particularly over the past decade and he deserves much credit for
the high quality, well-positioned portfolio that SEGRO now owns. My
Board colleagues and I will miss his contribution and, particularly
his clear, thoughtful and structured thinking. We thank him for
everything he has achieved and wish him well for the future".
"Looking ahead, the creation of a new Strategy, Investment and
Innovation function will enable us to build on our clear and
consistent strategy and our well established, disciplined approach
to capital allocation. It will help us to become more agile in
supporting our customers and other stakeholders, and to embrace the
unprecedented level of change arising from the technological
revolution".
Phil Redding said:
"I am proud of everything achieved over the past 24 years and
particularly the work of the Investment Team since 2011. I leave
the portfolio in great shape and wish everyone at SEGRO well for
the future".
As required by s430(2B) of the Companies Act 2006, details of
the remuneration payments to be made to Phil Redding will be
published on the Company's website when he steps down from the
Board.
ENDS
For further information, please contact:
SEGRO plc
Claire Mogford (Head of Investor Relations)
Tel: +44 (0) 20 7451 9048 / claire.mogford@segro.com
Richard Sunderland / Claire Turvey / Eve Kirmatzis (FTI
Consulting)
Tel: +44 (0) 20 3727 1000
Notes to Editors:
ABOUT SEGRO
SEGRO is a UK Real Estate Investment Trust (REIT), and a leading
owner, manager and developer of modern warehouses and light
industrial property. It owns or manages 7.8 million square metres
(84 million square feet) of space valued at GBP11.7 billion,
serving customers from a wide range of industry sectors. Its
properties are located in and around major cities and at key
transportation hubs in the UK and in eight other European
countries.
See www.SEGRO.com for further information.
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END
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