Pair joins Americold board of directors
Cold chain services provider appoints Joseph Reece and Stephen Sleigh to its board of directors.
Americold Realty Trust Inc., a global provider of temperature-controlled logistics, real estate, and value-added services focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, recently named Joseph Reece and Stephen Sleigh to its board of directors .
Americold also announced that its board has formed a new finance committee, which is comprised of existing and new directors, in order to support ongoing efforts to enhance shareholder value. These actions align with leadership’s existing strategic vision and will be supported by the company’s decision to enter into a cooperation agreement, which will enable private collaboration with sizable shareholder Ancora Group Holdings LLC (together with its affiliates “Ancora”).
“We are pleased to welcome Joe and Steve to the board as new independent directors, enabling us to benefit from fresh perspectives and key skillsets as we continue executing on our strategic priorities,” said Mark Patterson, Americold’s chairman of the board. “Joe and Steve bring considerable governance experience as well as expertise in corporate finance, capital markets transactions, and labor relations and shareholder engagement. We look forward to benefiting from their backgrounds as Americold advances initiatives to enhance profitability and drive sustainable, long-term value creation.”
The newly formed finance committee will focus on reviewing the company’s portfolio by region, market and sub-market and, in turn, making recommendations about prospective sales or divestitures, including potential international divestitures. The committee will also be focused on identifying opportunities to further reduce debt, maintain the company’s dividend and preserve Americold’s core assets for the long-term benefits of customers, employees and shareholders. David Neithercut will serve as chair and Reece will serve as vice chair, with Sleigh and two other Americold directors comprising the five-member committee.
“Americold is driving a transformation plan centered on our 2026 priorities – strategic capital management, portfolio optimization, operational excellence and disciplined growth,” Americold CEO Rob Chambers said. “Today’s announcement, including our collaboration with Ancora, highlights our commitment to regular, ongoing Board refreshment and driving value for Americold’s shareholders. With clear, near-term priorities and focused execution, we look forward to unlocking even greater value for all shareholders.”
Source: Americold
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