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Chair’s Introduction
Introduction to the Corporate Governance Report
Dear Shareholder On behalf of the Board, I am pleased to introduce our 2024 Corporate Governance Report. Board activities
The Board has been engaged throughout the year focusing on a range of topics. This included continued exploration of various opportunities aimed at increasing the scale of the business to bring both financial and non-financial benefits to our shareholders. We had significantly advanced discussions with the Board of UK Commercial Property REIT and their advisers, and although encouraged by the positive feedback from our shareholders, we were disappointed that their key shareholder was unwilling to engage or support a transaction. We considered Board composition and succession with a particular focus on diversity and inclusion. We have kept our portfolio strategy under review, which this year has culminated in the successful repositioning of one of our largest office assets, Angel Gate, London. The Board has also overseen the progress made towards delivering on our sustainability priorities. Further detail on the activities of the Board and its Committees is included under the Leadership and Purpose section of this report. Board composition and diversity There were no changes in the composition of the Board during this financial year. However, following Andrew Dewhirst’s decision to retire during 2024 and after conducting a comprehensive recruitment process, the Board was pleased to be able to announce the appointment of Saira Johnston as Andrew’s successor in October 2023. I am delighted to welcome Saira, who brings a wealth of experience and complementary skills to Picton, which will ensure we maintain our disciplined approach to capital allocation, with a focus on earnings growth.
Picton Property Income Limited / Annual Report 2024 78
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