He will step down from the board at the end of January and then leave the business three months later following the transitioning of his responsibilities.

Phil joined SEGRO in 1995 and has served as chief investment officer since 2011.

During his time there, he led the creation of its SELP (SEGRO European Logistics Partnership) joint venture and acquisitions of the Vailog and Roxhill development platforms. 

“I am proud of everything achieved over the past 24 years and particularly the work of the investment team since 2011,” said Phil.

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David Sleath, chief executive at SEGRO, added: “Phil has played a key role in the development of the group, particularly over the past decade, and he deserves much credit for the high-quality, well-positioned portfolio that SEGRO now owns.”

Responsibility for disciplined capital allocation and portfolio planning will be integrated with a newly formed strategy, investment and innovation function, reporting to Soumen Das, chief financial officer.
Local investment activities will be embedded within the operating teams, alongside the existing asset management, leasing and development functions.