SEGRO’s chief investment officer Phil Redding is to leave after 23 years at the industrial REIT.
His departure comes amid a restructure that will see capital allocation and portfolio planning integrated into a new strategy, investment and innovation division, reporting to chief financial officer Soumen Das.
Local investment activities will fall to the six operational teams which ultimately fall under the leadership of chief operating officer Andy Gulliford.
Redding is to step down from the board this month and will leave the business at the end of April.
He joined SEGRO in 1995 and has been CIO since 2011. He was instrumental in the repositioning of the portfolio and oversaw more than £8bn in transactions. He established the SELP joint venture and the acquisitions of the Vailog and Roxhill development platforms.
Chief executive David Sleath said: “Looking ahead, the creation of a new strategy, investment and innovation function will enable us to build on our clear and consistent strategy and our 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.”
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