StockMarketWire.com - Property investor and developer Segro said chief investment officer Phil Redding would stand down from the board at the end of the month and leave the company at the end of April.

Segro said responsibility for capital allocation and portfolio planning would be integrated with a newly-formed strategy, investment and innovation function reporting to chief financial officer Soumen Das.

Local investment activities would be embedded within operating teams, alongside existing asset management, leasing and development functions, reporting to six business-unit directors led by chief operating officer Andy Gulliford.

'Phil has played a key role in the development of the group, particularly over the past decade and he deserves much credit for the high quality, well-positioned portfolio that Segro now owns,' chief executive David Sleath said.

'My board colleagues and I will miss his contribution and, particularly his clear, thoughtful and structured thinking.'




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