Directorate Change

RNS Number : 9516C

SEGRO PLC

23 April 2013

 

23 April 2013

SEGRO Appoints Two New Executive Directors

SEGRO is pleased to announce that Andy Gulliford, Chief Operating Officer, and Phil Redding, Chief Investment Officer, will be appointed Executive Directors, with effect from 1 May 2013.

Andy Gulliford

Andy Gulliford joined SEGRO in 2004 and has been Chief Operating Officer since November 2011.  He is responsible for the Group's operational property teams, which involves managing all of SEGRO's development, leasing, customer and asset management activities.  Under Andy's leadership, the business has made significant operational progress over the past 18 months through customer focus, vacancy reduction, efficiency improvements and cost reductions, and the completion of 25 new developments. 

Phil Redding

Phil Redding joined SEGRO in 1995 and was appointed Chief Investment Officer in November 2011 with responsibility for the Group's investment strategy, where his role involves overseeing capital allocation across the business.  Phil has played a vital role in SEGRO's strategic portfolio re-shaping process and has led a number of successful transactions including the acquisition of the £315 million UK Logistics Fund (now the Logistics Property Partnership), a joint venture with Moorfield Real Estate, the acquisition of a portfolio of French logistics assets from Foncière Europe Logistique for €161 million (£130 million) and the disposal of £700 million of non-core assets. 

Commenting on these appointments, David Sleath, Chief Executive of SEGRO, said: "Disciplined Capital Allocation and Operational Excellence form the key pillars of our strategy to deliver attractive returns to shareholders and, under the direction of Phil and Andy, we have made great strides in both of these areas over the past 18 months.  I am very pleased that they are joining the Board, where we will benefit from their extensive property expertise and deep knowledge of SEGRO's business."

Nigel Rich, Chairman of SEGRO, said: "I am delighted to welcome Andy and Phil to the Board.  Both of them have played a key role in the implementation and execution of the strategy set out by David 18 months ago.  We look forward to working with them at Board level and will value their broader contribution as SEGRO continues to focus on delivering attractive shareholder returns."

There is no other information required to be disclosed pursuant to LR 9.6.13R in respect of Andy Gulliford and Phil Redding.

- ENDS -

For further information please contact:

SEGRO

David Sleath, Chief Executive:  [phone]

Tulchan

David Shriver: [phone]

Notes to Editors:

Andy Gulliford has 28 years of experience in real estate.  At SEGRO he previously held the position of Managing Director, Continental Europe for two years, responsible for SEGRO's €2 billion portfolio.  Previous positions in SEGRO include Director of Corporate Acquisitions and Business Development Director.

Before joining SEGRO, Andy was at Jones Lang LaSalle for 19 years as European Director for the company's industrial and logistics business.

Andy holds a BSc (Hons) degree in Land Management from Reading University and is a member of the Royal Institution of Chartered Surveyors (MRICS).

Phil Redding held the role of Business Unit Director for London Markets prior to his appointment as Chief Investment Officer, where he managed over £2 billion of property assets, the majority of which are concentrated in the Heathrow and Park Royal markets.  Phil has played a vital role in two of the major transactions which have helped shape SEGRO's existing portfolio - the takeover of Brixton in 2009 and the acquisition of the Company's share of the Airport Property Partnership in 2010, a joint venture with Aviva Investors. 

Phil started his career in 1990 at King Sturge, where he held a variety of positions.

Phil holds a BSc (Hons) degree in Estate Management from Oxford Brookes University, a Masters in Business Administration from the Open University and is a member of the Royal Institution of Chartered Surveyors (MRICS).

About SEGRO:  
SEGRO is a leading owner, asset manager and developer of modern warehousing, light industrial and data centre properties, with £4.7 billion of assets (as at 31 December 2012 including our share of joint venture assets) principally concentrated in London's Western Corridor (including the Thames Valley) and in key conurbations in France, Germany and Poland, as well as suburban offices in the Thames Valley, Brussels and Milan.

The Group serves over 1,300 customers spread across a diverse range of industry sectors.  It has 5.3 million sq m of built space and a passing rent roll of £318 million (as at 31 December 2012).  For further information see www.SEGRO.com.

 

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