U.K. self-storage operator Lok'nStore Group PLC has made several changes to its board of directors. CEO Andrew Jacobs has been elevated to executive chairman, while Neil Newman-Shepherd has been promoted to group managing director from his role as group sales director. Though Simon Thomas will step down from his role as non-executive chairman, he’ll continue to serve as a non-executive director.
Newman-Shepherd, 43, has been in the self-storage industry since 2003 and with Lok’nStore since 2006. He’s been a board member since 2015. “Neil Newman’s promotion to managing director is well-deserved and reflects, in large part, the reality of the way we run the business today,” Jacobs said. “Neil’s part in the success of Lok’nStore over recent years has been significant, and we look forward to his continued contribution to our future growth.”
The board also appointed Jeff Woyda as an independent non-executive director to begin on Sept. 1. Woyda has held a number of senior executive positions and currently serves as chief financial officer and chief operating officer for Clarkson PLC, a provider of integrated-shipping services and investment-banking solutions to shipping and offshore markets. He brings 30 years of experience in strategic development, financial management, investor relations and corporate governance.
“Jeff Woyda’s appointment as an independent non-executive brings a wealth of knowledge and experience, having held senior roles across multiple disciplines,” Jacobs said. “He will be a valuable addition to the board as we enter a new period of growth, and I look forward to working closely with him.”
“Lok’nStore has created an exciting platform in the self-storage sector, and I am excited to be joining the business at this next stage of its growth,” Woyda added. “I look forward to working with the board and the executive team to maximize the opportunities that lie ahead.”
Founded in 1995, Lok’nStore builds, buys or leases large warehouses or industrial buildings and rents storage units to customers on a weekly basis. It operates 34 self-storage facilities in Southern England. The self-storage portfolio is comprised of 15 freehold properties, eight leasehold sites and 11 locations under management.