1st May 2007 07:01
Grainger PLC01 May 2007 1 May 2007 GRAINGER STRENGTHENS BOARD WITH THE APPOINTMENT OF HENRY PITMAN AS NON-EXECUTIVE DIRECTOR Grainger plc ("Grainger"), the UK's largest quoted residential property ownerand trader with a market capitalisation of approximately £850m, today announcesthat it has further strengthened its Board with the appointment of a newindependent non-executive director with immediate effect. Henry Pitman, 44, with a background in property, brings significant commercialand services experience to further diversify the breadth and depth of thenon-executives on Grainger's Board. He is currently Chief Executive of TribalGroup plc, a company he founded in September 1999. Tribal is a leading UKprovider of consulting and professional support services, helping a wide rangeof clients - over 2,500 in the public sector alone - to improve the quality oftheir services to customers. Tribal is a leading consultancy in the socialhousing market, working with Registered Social Landlords and Local Authorities.Henry announced on 25 April 2007 that he will be standing down as ChiefExecutive with effect from 4 June 2007 to become a non-executive director. Prior to this, he was managing director of JHP Group Limited, a UK vocationaltraining and business services company, which he joined in 1995. From 1990 to1995 he worked for the Property Corporation of South Africa, gaining extensiveproperty experience. Robin Broadhurst, Chairman of Grainger, said: "We are delighted to welcome Henry onto Grainger's Board. His breadth ofexperience in a service focused business combined with his property expertisewill prove invaluable. We believe that he will make a considerable contributionto Grainger's ambitious plans over the coming years." Rupert Dickinson, Chief Executive of Grainger, added: "The last eighteen months have seen a significant shift, both in the residentialdiversification of Grainger's business activities and in the interest ofinstitutional investors in residential property. "The launch of Gres:1, its acquisition of the £205m Ability Portfolio, and ourcommitment to a co-investment model is proving a logical and well-timedcomplement to our core portfolio of regulated properties, which we also extendedin March through the off-market acquisition of a £15m portfolio. Grainger'sreputation, management infrastructure, service delivery and network of contactswill continue to play an important role, so Henry's skills should proveinvaluable at this exciting time in Grainger's evolution." Henry Pitman is considered independent on appointment under the provisions ofthe Combined Code. Although related to the Dickinson family, there are no closeties between him and the current or former directors of Grainger. Henry willbecome a member of the audit committee with immediate effect. No further details remain to be disclosed as required under LR 9.6.13R of theListing Rules of the UK Listing Authority. Ends Contact: Grainger plc:Rupert Dickinson Tel: +44 (0) 20 7795 4700Andrew Cunningham Tel: +44 (0) 191 261 1819 Financial Dynamics:Stephanie Highett / Dido Laurimore Tel: +44 (0) 20 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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