Derwent London PLC Directorate Change (8323M)
January 26 2021 - 2:00AM
UK Regulatory
TIDMDLN
RNS Number : 8323M
Derwent London PLC
26 January 2021
Derwent London plc ("Derwent London" / "the Company")
BOARD UPDATE
Appointment of Chairman Designate
Derwent London plc is pleased to announce the appointment of
Mark Breuer to the Board as an independent Non-Executive Director
with effect from 1 February 2021. Subject to shareholder approval,
Mark will succeed John Burns as Non-Executive Chairman following
conclusion of the 2021 Annual General Meeting when John will
retire.
Mark is highly experienced in business and corporate finance
having operated at senior levels in the UK and abroad. He worked in
investment banking for thirty years and, in 2017, retired from a
20-year career at JP Morgan in London, where he held the position
of Vice Chairman Global M&A and was a member of the Global
Strategic Advisory Council. During his career, he served in
numerous client facing and management roles advising on strategy,
finance and corporate development to both domestic and
international clients. Mark is a Fellow of the Institute of
Chartered Accountants of England and Wales, having qualified in
1987, and has a B.A. from Vassar College in the US.
Mark currently serves on the Board of DCC plc, as the Senior
Independent Director, and as a Non-Executive Director of Arix
Bioscience plc. There are no further details required to be
disclosed under LR 9.6.13 of the FCA Handbook.
John Burns, Chairman commented: "I am delighted that Mark will
join the Board of Derwent London. I am sure he will prove to be a
valued and respected addition and a highly effective Chair. I hand
over with every confidence in Mark's future success and that of the
Company."
Paul Williams, Chief Executive commented: "We welcome Mark to
the Board and look forward to working alongside him. Mark brings a
wealth of experience across many fronts and I am confident he will
make a valuable contribution to the Company. I should also like to
take this opportunity to thank John, our founder CEO and Chairman
in the last two years, for his exceptional contribution to Derwent
London, its shareholders, employees and other stakeholders, as well
as to me personally. We wish him a happy retirement."
Mark Breuer, Chairman Designate commented: "I am honoured to
have been selected as Chairman Designate of Derwent London, a
company I have long admired. I look forward to working with Paul
and the Board at an important time for the Company and all its
stakeholders. The business has proven highly resilient through the
pandemic and I am excited about its future."
Enquiries:
D A Lawler
Company Secretary
26 January 2021
020 7659 3000
www.derwentlondon.com
Brunswick
Simon Sporborg / Nina Coad
020 7404 5959
Notes to editors
Derwent London plc
Derwent London plc owns 83 buildings in a commercial real estate
portfolio predominantly in central London valued at GBP5.4 billion
(including joint ventures) as at 30 June 2020, making it the
largest London-focused real estate investment trust (REIT).
Our experienced team has a long track record of creating value
throughout the property cycle by regenerating our buildings via
development or refurbishment, effective asset management and
capital recycling.
We typically acquire central London properties off-market with
low capital values and modest rents in improving locations, most of
which are either in the West End or the Tech Belt. We capitalise on
the unique qualities of each of our properties - taking a fresh
approach to the regeneration of every building with a focus on
anticipating tenant requirements and an emphasis on design.
Reflecting and supporting our long-term success, the business
has a strong balance sheet with modest leverage, a robust income
stream and flexible financing.
As part of our commitment to lead the industry in mitigating
climate change, Derwent London has committed to becoming a net zero
carbon business by 2030, publishing its pathway to achieving this
goal in July 2020. In 2019 the Group became the first UK REIT to
sign a Revolving Credit Facility with a "green' tranche. At the
same time, we also launched our Green Finance Framework and signed
the Better Buildings Partnership's climate change commitment. The
Group is a member of the 'RE100' which recognises Derwent London as
an influential company, committed to 100% renewable power by
purchasing renewable energy, a key step in becoming a net zero
carbon business. Derwent London is one of only a few property
companies worldwide to have science-based carbon targets validated
by the Science Based Targets initiative (SBTi).
Landmark schemes in our 5.6 million sq ft portfolio include 80
Charlotte Street W1, Brunel Building W2, White Collar Factory EC1,
Angel Building EC1, 1-2 Stephen Street W1, Horseferry House SW1 and
Tea Building E1.
In 2020 the Group has won several awards for Brunel Building
with the most prominent being the BCO Best Commercial Workplace
award. In 2019 the Group won EG Offices Company of the Year, the
CoStar West End Deal of the Year for Brunel Building, Westminster
Business Council's Best Achievement in Sustainability award and
topped the real estate sector and was placed ninth overall in the
Management Today 2019 awards for 'Britain's Most Admired
Companies'. In 2013 the Company launched a voluntary Community Fund
and has to date supported over 100 community projects in the West
End and the Tech Belt.
The Company is a public limited company, which is listed on the
London Stock Exchange and incorporated and domiciled in the UK. The
address of its registered office is 25 Savile Row, London, W1S
2ER.
For further information see www.derwentlondon.com or follow us
on Twitter at @derwentlondon
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