Board Appointments
14th September 2007
SEGRO SHAPES UP FOR THE FUTURE
SEGRO has announced a number of changes to its management structure, designed
to ensure that the Company is in the right shape to continue its successful
growth.
In the UK, three business units are being introduced to replace the existing
six regions. This builds on the successful regional structure introduced in
2005 and as a result of which we have had successive periods of record levels
of lettings across the UK portfolio. The three new units will be the "Slough
Trading Estate" (headed by Kevin O'Connor); "London" (headed by Phil Redding);
and "The Regions" (headed by Gareth Osborn). Following the implementation of
the new structure John Heawood will be leaving SEGRO in July 2008. Ian Coull
said "Over the last 11 years, John has made a major contribution to the UK
business and has gained both our respect and our affection. On behalf of the
Board, I would like to thank him for his outstanding contribution.
We are now looking for a replacement for him. In the meantime, John remains in
charge of the UK property business and will continue to be a member of the
Executive Committee and a Group Board Director"
A Group Business Development function is being established. The department's
role is to focus on our major customers and market segments, generating and
securing significant large scale opportunities for profitable growth across the
Group. In addition to property acquisitions, the initial focus will build on
areas of recent success in Corporate Partnering, Big Box Logistics and Data
Centres. This new function will report to Chief Executive, Ian Coull and will
be headed up by Walter Hens, currently Managing Director, Continental Europe.
Walter has delivered some of the largest and most successful of SEGRO's deals
in recent years. SEGRO is recruiting a new Chief Operating Officer for
Continental Europe and Walter Hens will complete the transfer to his new role
when the new COO is in place and handover has been successfully completed.
SEGRO is also establishing a Group Environmental Sustainability function,
reflecting the increasing importance of this area both to the Group and to its
customers. We will therefore be appointing a Head of Group Environmental
Sustainability and look forward to making a further announcement in due course.
Ian Coull, Chief Executive:
"SEGRO has made great progress over the last few years. As the leading provider
of Flexible Business Space in the UK and Continental Europe, we are focused on
the sector which plays directly to our core skills. The initiatives we are
announcing today will help us to stay ahead of the game, by giving us the right
structure and team to exploit the opportunities across the UK and Continental
Europe."
For further information please contact:
SEGRO Tel: +44 7775 788 628 Michael Waring
Maitland Tel: +44 207 379 5151 Colin Browne/Peter Ogden
About SEGROSEGRO is the leading provider of Flexible Business Space in Europe.
Headquartered in the UK, SEGRO is listed on the London Stock Exchange and on
Euronext in Paris. The company is a UK Real Estate Investment Trust ("REIT")
with operations in ten countries (it completed the exit from its US business in
August 2007), serving a diversified customer base of over 1,600 customers
operating in a wide range of sectors, representing both small and large
businesses, from start ups to global corporations. With investment property
assets of £5.1 billion (including trading properties and development assets)
and around 3.9 million sq m of business space, SEGRO has an annual rental
income in excess of £200 million. www.segro.com
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