Empiric Student Property PLC APPOINTMENT OF NEW CHIEF EXECUTIVE OFFICER (1439R)
June 26 2020 - 2:00AM
UK Regulatory
TIDMESP
RNS Number : 1439R
Empiric Student Property PLC
26 June 2020
26 June 2020
Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries,
the "Group")
APPOINTMENT OF NEW CHIEF EXECUTIVE OFFICER
The Board of Empiric Student Property plc (ticker: ESP), the
owner and operator of premium student accommodation across the UK,
is pleased to announce today the appointment of Duncan Garrood as
Chief Executive Officer of the Company.
Duncan is an experienced and proven business leader in PLCs and
large privately-owned businesses in the UK and international
markets and he has strong operational, sales and marketing skills.
Most recently, Duncan was CEO of Ten Entertainment Group PLC
(2018-present), the UK's second largest operator of family
entertainment centres and focussed on tenpin bowling. Prior to
this, Duncan was CEO of Punch Taverns plc, the UK pub and bar
operator, navigating its turnaround and sale, after spending six
years with M.H. Alshaya Co., one of the world's largest licensed
retail operators. For five years, he was Commercial Director at BAA
Plc, overseeing the growth of World Duty Free, Lynton Property and
the commercial development of Heathrow Terminal 5. Early in his
career, Duncan spent 19 years with Unilever PLC in various UK and
overseas roles, principally in China.
Duncan will join Empiric no later than 1 January 2021. In the
interim period, Lynne Fennah will continue to take on additional
executive responsibilities and remain supported by a strong senior
leadership team and Board, under the direction of Mark Pain,
Chairman. Following the announcement of his departure on 18 March
2020, Tim Attlee will step down as CEO of the Company on 30 June
2020.
Mark Pain, Chairman of Empiric Student Property plc,
commented:
"I am delighted to announce that we have appointed Duncan as our
new CEO. He is a strong and proven business leader with excellent
business development and operational capabilities and extensive
experience in commercial businesses with significant real estate
assets. The Board has conducted a thorough search process to find
the best candidate and we are delighted to have appointed Duncan to
lead Empiric.
We look forward to working with Duncan to embed and further
drive improvements to the financial and operational performance of
the Group and lead the business and our people through the next
phase of Empiric's development. "
Duncan Garrood added:
"I am excited to be joining Empiric at this point in its
development. The Company has largely been transformed into an
integrated operational property business focused on premium student
accommodation across the UK. I see a significant opportunity to
harness further the strengths of the business and build on its
success. I look forward to working with Mark, Lynne and the whole
Empiric team to build a stronger business for the Group's
customers, employees, partners and shareholders."
No further information is required to be disclosure pursuant to
Listing Rule 9.6.13R.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Empiric Student Property plc (via Maitland/AMO below)
Mark Pain (Chairman)
Lynne Fennah (Chief Financial & Operating
Officer)
Jefferies International Limited Tel: 020 7029 8000
Stuart Klein
Tom Yeadon
RBC Europe Limited (trading as RBC Tel: 020 7653 4000
Capital Markets)
Charlie Foster
Marcus Jackson
M aitland/AMO (Communications Adviser) Tel: 020 7379 5151
James Benjamin Email: empiric-maitland@maitland.co.uk
The Company's LEI is 213800FPF38IBPRFPU87.
Further information on Empiric can be found on the Company's
website at www.empiric.co.uk .
Notes:
Empiric Student Property plc is a leading provider and operator
of modern, predominantly direct-let, premium student accommodation
located in high-demand university towns and cities across the UK.
Investing in both operating and development assets, Empiric is a
fully integrated operational student property business focused on
premium studio-led accommodation managed through its Hello
Student(R) operating platform, that is attractive to affluent
growing student segments.
The Company, an internally managed real estate investment trust
("REIT") incorporated in England and Wales, listed on the premium
listing segment of the Official List of the Financial Conduct
Authority and was admitted to trading on the main market for listed
securities of the London Stock Exchange in June 2014.
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END
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