Regulatory News:
Following the announcement on 22 September 2022 regarding the retirement of its Chief Operating Officer Andy Gulliford, SEGRO plc ("SEGRO" or the "Group) (BOURSE:SGRO) today confirms that Andy will be retiring from the business and stepping down from the Board on 30 June 2023.
The Group also announces that it has taken this opportunity to expand its executive leadership structure, to reflect the increased scale and footprint of its operations. The new structure provides opportunities to promote the great talent within the business, whilst ensuring that the leadership team has the right experience and capabilities to continue to deliver SEGRO's strategic priorities and secure its ambitious plans for future growth.
As a result, SEGRO is appointing James Craddock, Paul Dunne, Andrew Pilsworth and Marco Simonetti to its Executive Committee, reporting to David Sleath, Chief Executive. The new roles, which will take effect from 1 July 2023, are detailed below and will fulfil a wide range of functions from leading the Group's property operations, implementing its sustainability strategy, to incubating new propositions and driving growth.
David Sleath, Chief Executive, SEGRO, said:
"Our existing operating model has served us well over the last decade as we have grown into one of Europe's largest and best-performing property companies. While we can be proud of our achievements to date, we remain ambitious for further growth, success and continued exemplary customer service. The time is right to evolve our organisational model to take full advantage of the exciting opportunities ahead, and to ensure we continue to meet the expectations of our customers, shareholders, colleagues and other stakeholders.
"James, Paul, Andrew and Marco are exceptional leaders with many years' experience in a variety of roles, which will be hugely beneficial as we strive towards our ambition to be the best property company.
"I would also like to take this opportunity to once again thank Andy for his significant contribution to SEGRO's success over the years and to wish him well for the future."
New roles and appointments
Managing Director, UK Managing Director, Continental Europe
Two new roles have been formed with responsibility for leading SEGRO's property activities, one covering the UK and the other Continental Europe. This will include achieving portfolio outperformance and growth, as well as supporting the delivery of the Group's strategy within their respective regions.
James Craddock has been promoted from his role as Managing Director of SEGRO's Thames Valley business unit to Managing Director, UK. Marco Simonetti has been promoted from his role as Managing Director of SEGRO's Southern Europe business unit to Managing Director, Continental Europe.
Group Customer Operations Director
Customers have been at the heart of SEGRO's business for many years and the creation of this role signifies the Group's intent to raise its customer service standards to a new level and to further deepen its customer relationships to provide competitive advantage. Alongside this will be the responsibility for setting standards and ensuring consistency across the UK and Europe within the operational functions, including driving the Group's sustainability strategy.
Paul Dunne, currently Managing Director, Group Operations has been promoted to this role.
Chief of Staff
The Chief of Staff will work closely with David Sleath and other Executive Committee members in developing and implementing strategic initiatives and leading on cross-border business propositions.
Andrew Pilsworth, currently Managing Director of SEGRO's National Logistics business unit, has been promoted to this role.
As a result of these changes, James, Paul, Andrew and Marco will join the Executive Committee alongside existing members David Sleath, Soumen Das (Chief Financial Officer) and Margaret Murphy (Group HR Director).
COO retirement
As required by s430(2B) of the Companies Act 2006, details of the remuneration payments to be made to Andy Gulliford will be published on the Company's website when he steps down from the Board.
About SEGRO
SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock Exchange and Euronext Paris, and is a leading owner, manager and developer of modern warehouses and industrial property. It owns or manages 9.9 million square metres of space (106 million square feet) valued at £20.9 billion as at 31 December 2022, 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 seven other European countries.
For over 100 years SEGRO has been creating the space that enables extraordinary things to happen. From modern big box warehouses, used primarily for regional, national and international distribution hubs, to urban warehousing located close to major population centres and business districts, it provides high-quality assets that allow its customers to thrive.
A commitment to be a force for societal and environmental good is integral to SEGRO's purpose and strategy. Its Responsible SEGRO framework focuses on three long-term priorities where the company believes it can make the greatest impact: Championing Low-Carbon Growth, Investing in Local Communities and Environments and Nurturing Talent.
Striving for the highest standards of innovation, sustainable business practices and enabling economic and societal prosperity underpins SEGRO's ambition to be the best property company.
See www.SEGRO.com for further information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230516005907/en/
Contacts:
CONTACT DETAILS FOR INVESTOR ANALYST AND MEDIA ENQUIRIES:
SEGRO
David Sleath (Chief Executive)
Tel: +44 (0) 20 7451 9120
Claire Mogford (Head of Investor Relations)
Tel: +44 (0) 20 7451 9048
Gary Gaskarth (External Communications Manager)
Tel: +44 (0) 20 7451 9069
FTI Consulting
Richard Sunderland Ellie Sweeney Eve Kirmatzis
Tel: +44 (0) 20 3727 1000
