SEGRO Chief Operating Officer to retire
SEGRO plc (“the Company”) announces that Andy Gulliford has informed the Board of his intention to retire from the business in 2023. A process will be undertaken to identify potential successors and a further announcement concerning the date of Andy’s retirement will be made in due course, allowing for an orderly transition of his responsibilities.
Commenting on Andy’s planned retirement, David Sleath, Group Chief Executive said:
“Andy Gulliford joined the business in 2004 and has held a variety of important executive roles, culminating in his being appointed Chief Operating Officer in 2011 and joining the Board in 2013. He has played a vital role in the growth and success of the Company, particularly over the past decade. At a personal level, he has provided tremendous support to me and the Board and, throughout the organisation, he is regarded as a wonderful colleague to work with. He will retire with our very best wishes for the future.”
Andy Gulliford said:
“I have been very lucky to have enjoyed a fantastic career at SEGRO. Being part of such a talented team has been a huge privilege. I will leave a strong, successful business which I am confident will continue to thrive. I’ll miss it greatly, particularly my colleagues. In the meantime, there is still much to do, and it will be business as usual until then.”
In line with the Company’s shareholder approved Directors’ Remuneration Policy, the Remuneration Committee has approved “good leaver status” for Andy Gulliford in relation to bonus and share awards that will be outstanding when he retires. All awards will be treated in accordance with the relevant plan rules, will remain subject to the relevant performance conditions and holding periods, and will, in the case of the long-term incentive awards, be pro-rated for the proportion of the vesting period that has elapsed when he leaves employment. Share awards will be released on the normal dates. Andy’s salary and benefits will continue until he retires from the Company, but he will not be entitled to Long Term Incentive Plan and Sharesave awards in relation to his period of employment during the 2023 financial year.
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 9.6 million square metres of space (103 million square feet) valued at £21.3 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 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.