Warehouse developer Segro announced yesterday that its chairman Nigel Rich will step down after a decade in the role.
The FTSE 250 company, which owns or manages £6.4bn of assets across Europe covering 5.7m square metres, said Rich will retire at the annual general meeting next year.
It has already kick-off the search for his successor and said the process will be overseen by Baroness Ford, its senior independent director.
Rich, 69, was appointed chairman of Segro in 2006 after joining the company as a non-executive director earlier that year. He previously held senior roles at former engineering and shipping conglomerate Trafalgar House, where he was chief executive, HongKong Land and Jardine Matheson Holdings.
He is a member of the takeover panel and holds non-executive roles at Matheson & Co, Pacific Assets Trust and British Empire Securities and GeneralTrust.