St. Modwen announces new chief executive

Property investment and development business St. Modwen has appointed Sarwjit Sambhi as its chief executive.

Sambhi was most recently CEO of Centrica Consumer and a member of the board at Centrica plc, the FTSE 250 energy group.

He held various senior positions during his 19-year tenure at the company, including strategy, finance, major capital projects and renewable energy, before leading its consumer business which included providing energy and home services to the nine million customers of British Gas.

Prior to Centrica, Sambhi was at the technology and management consultancy Booz Allen & Hamilton.

Danuta Gray, chair of St. Modwen, said: “Sarwjit’s breadth of experience and proven leadership capability in a large and complex organisation strongly positions him to deliver St Modwen’s stated strategy. The board believes he is a great fit for St. Modwen and well qualified to lead the business and develop the company for further success, creating value for all our stakeholders.

“I’d also like to take this opportunity to thank Rob Hudson for his strong leadership as interim chief executive over the past six months, during what has been a very challenging period. Despite this, the company has remained resilient operationally and performed strongly.”

Sambhi added: “I am proud to be joining St. Modwen. It is a strong business with considerable opportunities to leave a lasting legacy by creating homes, establishing new communities and delivering high-quality industrial and logistics spaces. I am looking forward to getting to the know the business, its committed people and the many different stakeholders for whom and with whom the business will thrive.”