Peel director joins board of Pinewood Shepperton

STEVE Underwood, corporate development director at Peel Group, has joined the board of Pinewood Shepperton, the Stock Market-listed film maker.

Mr Underwood, will represent Manchester-based Peel’s 26.6% shareholding in Pinewood Shepperton.

Michael Grade, chairman of Pinewood Shepperton said: “Steven is a welcome addition to the board. His appointment shows Peel’s commitment to the long-term success of this business.

“In addition to their proven commercial judgement, their particular expertise and success in property planning and development will provide invaluable support to the board and its strategy.   I look forward to working closely with him as we continue to deliver our strategic goals.”

Mr Underwood added:  I look forward to playing my part in helping the company achieve its goals and delivering long-term value for shareholders as a whole.”

The appointment is seen as a defensive move by Pinewood Shepperton and Mr Grade, who has come under fire from activist fund Crystal Amber – the company’s second largest shareholder after Peel – over its recent financial performance.

London-based Pinewood Shepperton, best known for making James Bond films, also owns significant property assets, which Crystal Amber wants to see developed without delay.