(Sharecast News) - Property investment and development company Segro said on Tuesday that Phil Redding will step down as chief investment officer at the end of January and leave the company at the end of April.
Responsibility for disciplined capital allocation and portfolio planning will be integrated with a newly formed strategy, investment and innovation function, reporting to chief financial officer Soumen Das.
Segro said 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 chief operating officer Andy Gulliford.
Chief executive David Sleath said the creation of a new strategy, investment and innovation function will enable the company to build on its "clear and consistent strategy" and its "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," he said.
At 1045 GMT, the shares were down 0.1% at 894.80p.
Segro (SGRO)26 Apr 2024 13:36