9 Dec 2015 07:00
9th December 2015
Peter Williams, appointed to the Board of U+I as Chairman Designate
U and I Group PLC ("U+I"), the leading property regeneration company, announces that the Board has appointed Peter Williams, as an independent Non-executive Director and Chairman Designate with effect from 4th January 2016. Mr Williams will become Chairman following the Company's Annual General Meeting on 14th July 2016 when David Jenkins will retire from the Board as Chairman after over eight years of service.
Mr Williams is a seasoned Chairman, with over 30 years' of board-level experience having held a number of executive and non-executive positions at a wide range of public and private consumer-facing businesses. He was Chief Executive of Selfridges plc and Alpha Airports plc and currently serves as Chairman of boohoo.com PLC, the online fashion retailer, Senior Independent Director of Rightmove PLC, the UK's largest property portal, and also Sportech PLC, one of the world's leading pool betting operators and technology suppliers. In addition, Mr Williams has served on the boards of many companies including ASOS plc, Cineworld Group PLC, Jaeger, Silverstone Holdings Ltd, the EMI group, Blacks Leisure Group PLC, JJB Sports and Capital Radio PLC.
Mr Williams joins the Board of U+I at a significant point in the evolution of the business, which recently rebranded following the completed integration of Development Securities PLC and Cathedral Group. Specialising in best-in-class mixed-use regeneration, U+I is focussed on delivering excellent returns for Shareholders by transforming undervalued land and assets into productive places. The management team is now executing a number of strategic initiatives to drive increased value from across the business. These include a focus on larger regeneration projects, a closer integration of the Company's investment and development teams and the creation of specialist platforms in specific asset classes.
Matthew Weiner, Chief Executive Officer, U+I said:
"We are delighted to welcome Peter Williams to the U+I Board, who brings with him an enormous amount of experience that will support and benefit the business. His experience of high street and town centre retail is highly relevant to a number of our projects and his insight will be particularly valuable as we embark on our planned changes to our investment portfolio. Peter has been involved in a number of high profile corporate transitions, perhaps most famously at Selfridges where he was a driving force behind the reinvention of the brand and the programme of refurbishment and nationwide expansion of its stores. His expertise across a range of corporate situations in different consumer-facing industries will strengthen the Board at a time of evolution in the business.
I would like to thank David Jenkins for his contribution to the Company who has carefully steered the Board through the turbulent times of the financial crisis and through its evolution from Development Securities PLC to U+I."
Peter Williams said:
"I look forward to joining the Board of U+I and taking over as Chairman next year. Across the real estate sector, the needs of end users are now, more than ever, driving the shape of property development, and I am confident that my experience and knowledge of consumer-facing industries will be a valuable addition to the Company. With a renewed and ambitious focus, U+I has the skills, the assets and the energy to create the most respected regeneration company in the UK. I look forward to working with the talented management team to make this ambition a reality."
ENDS
For further information, please contact:
Lucy Grimble, Head of Investor Relations
+44 207 828 4777
Peter Hewer / Martha Walsh, Tulchan Communications
+44 207 353 4200
About U+I
About U + I
U+I is a property regeneration company that transforms undervalued parts of towns and cities into communities where people and enterprise can thrive. The product of a merger between Development Securities PLC and Cathedral Group, two of the UK's leading property companies, U+I has a current market capitalisation of c. £300 million.
With a portfolio of mixed-use regeneration projects in London, the south-east, Manchester and Dublin we bring creativity and innovation to some of the most exciting opportunities in the property market. We combine financial strength and commercial acumen, a strong track record of working in partnership with public bodies, a commitment to the highest standards of design and architecture and a careful curation of place and history, to deliver long-term, sustainable change and value for our diverse stakeholder groups.
To find out more, visit www.uandiplc.com
Notes:
1. Peter Williams has over 30 years' experience in executive and non-executive positions across a wide variety of consumer-facing businesses. Peter is perhaps best known for his radical transformation of Selfridges into one of the world's leading department stores. Following Selfridges, he was appointed as Chief Executive of Alpha Airports Group plc, the duty free retailer and airline catering business, to reorganise the company. For 8 years up to December 2013 he was the Senior Independent Director at ASOS plc, the leading online fashion retailer. Peter is a member of the Institute of Chartered Accountants in England and Wales.
Peter is currently Chairman at boohoo.com plc, the online fashion retailer, and Senior Independent Director at both Rightmove plc, the UK's largest property portal, and at Sportech plc, owner of the Football Pools and an operator of gaming totes. He is also Chairman of Mister Spex, an online retailer selling eyewear from its base in Berlin. Peter is a trustee of the Design Council. During his executive career he was Chief Executive at both Selfridges plc and Alpha Airports plc. He has served on the boards of ASOS plc, Cineworld Group plc, Jaeger, Blacks Leisure Group plc, JJB Sports plc, the EMI group, Silverstone, OfficeTeam, Erno Laszlo, Capital Radio plc and GCap Media plc. From 2003-2004 he was a Non-Executive Director of The New West End Company, the UK's largest retail Business Improvement District which represents 600 businesses across 25 streets in the retail heartland of London's West End.
2. Peter Williams will be a member of the Audit and Risk, Remuneration and Nomination Committees.
3. In accordance with the Company's payment policy for Non-executive Directors, as disclosed in the 2015 Annual Report and Accounts, Peter Williams will initially receive a basic Non-Executive Director salary of £40,000 per annum, in addition he will receive an additional £10,000 per annum for his appointment as a member of the Audit and Risk and Remuneration Committees. Peter will be appointed as Chairman on 14th July 2016 at such time the Remuneration Committee will review and increase his annual fees accordingly. Peter will be appointed for an initial term of three years subject to annual re-election by shareholders at the Company's AGM
4. For the purpose of Listing Rule 9.6.13(1), Mr Williams holds or has held the following publicly quoted board positions in the previous five years:
2014 - present Chairman, boohoo.com plc
2014 - present Senior Independent Director, Rightmove plc
2011 - present Senior Independent Director, Sportech plc
2006 - 2015 NED, Cineworld Group plc
2006 - 2013 Senior Independent Director , ASOS plc
2011 - 2012 Chairman, Blacks Leisure Group plc
5. Other than as noted above, there is no additional information required to be disclosed pursuant to Listing Rule 9.6.13R in respect of Mr Peter Williams.
6. Mr Williams currently holds no Company shares.
7. David Jenkins was appointed to the Board on 1st February 2007 and became Chairman on 15 May 2007. David is a Fellow of the Institute of Chartered Accountants in England and Wales. He was previously a partner in Deloitte LLP, London, and was managing partner of their Real Estate practice until his retirement in May 2004. David spent nine years as Senior Independent Director of MITIE Group PLC until July 2015, where he remains a Non-executive Director, and is Non-executive Director of Renewable Energy Systems Holdings Ltd as well as advisor to several companies.