Grainger announces Mark Clare to its Board of Directors as upcoming Non-Executive Chairman

– UK, Newcastle Upon Tyen – Grainger plc (LSE:GRI), the UK’s largest listed residential landlord, announces today that Baroness Ford, the non-executive Chairman of the Company, has notified the Board of her intention to retire from Grainger at the next Annual General Meeting of the Company on 8 February 2017. Baroness Ford will have served a full nine years on the Board of Grainger plc, the last two in the role of non-executive Chairman.

Grainger is announcing today that Mark Clare will join the Company as non-executive Chairman of the Board on 13 February 2017. Mark (59) is currently Senior Independent Director of both United Utilities Group plc and Ladbrokes Coral Group plc and a Non-Executive Director of Premier Marinas Holdings Limited.

Mark was previously Chief Executive of Barratt Developments plc from 2006-2015 and is a former trustee of the Building Research Establishment and the UK Green Building Council. Prior to joining Barratt, he was an executive director of Centrica plc and held a number of senior roles both within Centrica plc and British Gas. Mark has also been a non-executive director of BAA plc, the airports operator.

Grainger plc is also announcing today that Justin Read will join the board as a non-executive director on 13 February 2017.

Justin (55) was Group Finance Director of SEGRO plc from August 2011 to December 2016. Between 2008 and 2011 Justin was Group Finance Director at Speedy Hire plc. Prior to this, he spent 13 years in a variety of roles at Hanson plc, including Deputy Finance Director, Managing Director of Hanson Continental Europe, Head of Corporate Development, Head of Risk Management and Group Treasurer. Justin has also held positions at Euro Disney S.C.A. and Bankers Trust Company. Justin was recently appointed as a non-executive director of Ibstock plc.

Helen Gordon, Chief Executive of Grainger, said: “We would like to thank Margaret for her significant contribution over the past nine years. She has been instrumental in identifying the need for a step change in the Group’s strategic direction and has supported the new team in delivering it. The Group is being transformed into a Private Rented Sector investment business with a sustainable and visible income stream from well-run private rented residential homes, and is in a strong position to continue to deliver on its growth strategy and enhance shareholder returns.”

Margaret Ford, non-executive Chairman of Grainger commented on the new appointments: “We set very challenging requirements for Grainger’s new Chairman and are very pleased that Mark Clare meets all of our criteria. Mark is an enormously experienced and respected business leader with a strong record in the residential sector. He will bring great leadership, integrity and knowledge to the role, supporting Grainger’s continued strategic transformation to deliver improved shareholder returns.

Justin Read has enjoyed a distinguished career in the property sector embracing considerable real estate experience both within the UK and internationally. He is well known within the industry and we are delighted to welcome him to the Grainger Board.”

For more information : http://www.graingerplc.co.uk

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