– UK, Borehamwood – Safestore Holdings plc (LON: SAFE) today announced the appointment of David Hearn as non-Executive Director with effect from 1st December 2019, and as Chairman of the Company with effect from 1st January 2020.
“David will be an excellent successor and brings a proven track record of chairing companies through significant expansion. His extensive experience and commercial knowledge will be invaluable to Safestore as we drive the business forward through our next phase of growth. I look forward to working closely with him.” said Frederic Vecchioli, CEO
“The Board would like to thank Alan for his extensive contribution, guidance and stewardship of Safestore over the past decade. He has played an important role in overseeing Safestore’s outstanding growth journey. During his five years as chairman, Safestore has delivered Total Shareholder Return of more than 440%, making it the leading performer in the UK REIT sector and fifth-highest TSR in the FTSE 250.” he added.
David will succeed Alan Lewis who announced in January 2019 his intention to retire from the Board following five years as non-Executive Chairman and more than 10 years as a member of the Company’s Board. Alan will formally retire from the Board on 1st January 2020
About David Hearn
David brings a wealth of international board and senior executive experience in public companies, having previously been CEO of leading consumer goods businesses Goodman Fielder in Australasia, United Biscuits in Europe and Asia, Cordiant Plc in the US and the UK and also international private equity and advisory firm Committed Capital. David is currently Chairman of The a2 Milk Company, one of the largest listed companies on the New Zealand stock exchange and also dual-listed on the ASX. Since David joined The a2 Milk Company in 2013, he has overseen its significant growth from a market capitalisation of approximately NZD$400m to its present value of almost NZD$11billion. David is also a director of Lovat Partners, Committed Capital and the architectural firm, Robin Partington and Partners.
David Hearn, Chairman designate commented: “Safestore is a market leader and I am excited to be joining the business at this next stage of its growth. I look forward to working with the Board and the executive team to capitalise on the clear opportunities that lie ahead.”
About
Safestore is the UK’s largest self-storage group with 150 stores at 31 October 2019, comprising 122 wholly-owned stores in the UK and 28 wholly-owned stores in the Paris region.
Safestore operates more self-storage sites inside the M25 and in central Paris than any competitor providing more proximity to customers in the wealthiest and densest UK and French markets.
Safestore was founded in the UK in 1998. It acquired the French business “Une Pièce en Plus” in 2004 which was founded in 1998 by the current Safestore Group CEO Frederic Vecchioli.
Safestore has been listed on the London Stock Exchange since 2007. It entered the FTSE 250 index in October 2015.
The Group provides storage to around 60,000 personal and business customers.
As at 31 October 2019, Safestore had a maximum lettable area of 6.47 million sq ft of which 4.98 million sq ft was occupied.
Safestore employs around 650 people in the UK and France.
For more information: https://www.safestore.co.uk
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