Governance

Effective corporate governance has been the cornerstone of the Company's strategy and structure since its launch in 2013.

Aubrey Adams, OBE, FCA, FRICS
Independent Chairman

Our structure

Tritax Big Box REIT plc ("the Company") is listed on the London Stock Exchange. Tritax Big Box Developments Limited is a Tritax Big Box REIT plc associated company, responsible for the development of its high-quality land platform. Tritax Big Box REIT plc is managed by Tritax Management LLP ("Tritax"), a full-service investor in supply chain real assets, which also oversees the operations of Tritax Big Box Developments Limited.

The role of the Tritax Big Box REIT plc Board

The Tritax Big Box REIT plc Board determines the Company's Investment Objectives and Investment Policy with Tritax Management LLP and has overall responsibility for the Company's activities, including reviewing investment activity, performance, business conduct and strategy. The Board applies the Principles and Provisions of the AIC Code of Corporate Governance to ensure the highest standards of governance.

The operational aspects of running the Company are delegated to the Manager, however the Board has reserved certain matters for its consideration. Download the Matters Reserved for the Board. The Board is fully independent of the Manager.

Supporting sustainable and ethical growth

Strong governance and strategic management of the Company’s environmental and social impact is integral to our future success. Tritax Management LLP, is responsible for delivering the Company’s ESG strategy, reporting to the Tritax Big Box REIT Board, who are committed to assuring that the long-term interests of all stakeholders are being served.

The Audit and Risk Committee is Chaired by Richard Laing and comprises Karen Whitworth, Elizabeth Brown, Wu Gang and Kirsty Wilman. This Committee’s role is to oversee the Company’s financial reporting process, including the risk management and internal financial controls that are in place within the Manager, the valuation of the property portfolio, the Company’s compliance with accepted accounting standards and other regulatory requirements, as well as the activities of the auditors. Download the Audit & Risk Committee’s Terms of Reference.

The Nomination Committee is Chaired by Aubrey Adams and comprises Alastair Hughes and Karen Whitworth. This Committee's role is to review the size, structure and composition of the Board; and to ensure that the Board has the right mix of skills, experience and knowledge to enable the Company to fulfil its strategic objectives. The Committee is also responsible for making recommendations for new appointments to the Board and for reviewing the performance and terms of engagement for the existing Directors. Download the Nomination Committee's Terms of Reference.

The Management Engagement Committee is Chaired by Elizabeth Brown and comprises Aubrey Adams, Richard Laing, Alastair Hughes, Wu Gang, Karen Whitworth and Kirsty Wilman. The Committee’s role is to review the performance of the Manager and the Company’s other main service providers over the year and to recommend any providers for re-tender to the Board. The Committee is also responsible for overseeing any amendments to the Investment Management Agreement between the Company and the Manager. Download the Management Engagement Committee’s Terms of Reference.

The Manager

Tritax Management LLP is responsible for the day-to-day running of Tritax Big Box REIT plc ("the Company"). This includes making the final decisions in consultation with the Board, in respect of investments and divestments, financial management, asset management and investor relations.

The Manager oversees the competent and ethical operation of the Company. It has dedicated specialist teams in place to ensure that the highest standards of corporate governance and regulatory practice are applied across Tritax Big Box REIT and Tritax’s other Funds.

Colin Godfrey as CEO for Tritax Big Box REIT plc, James Dunlop as CEO of Investments for the Manager, Henry Franklin as COO of the Manager, and Frankie Whitehead as CFO for Tritax Big Box REIT plc, oversee the Manager’s relationship with the Company.

Tritax Management LLP is 60% owned by abrdn.

The Investment Committee is responsible for leading the overall portfolio management of the Company, including the activities of Tritax Big Box Developments Limited (formerly Tritax Symmetry Limited), an associated company of Tritax Big Box REIT plc. The Investment Committee reviews and approves all investment and divestment decisions of the Company in line with the Company’s Investment Objectives and Investment Policy set by the Board. Download the Investment Committee's Terms of Reference.

The ESG Committee is responsible for the oversight of the Company's ESG matters. It reviews the sustainability strategy adopted by the Board and the Company’s progress on key corporate responsibility initiatives and makes recommendations to the Board regarding progress on integrating ESG factors into the business strategy and decision-making. It also provides oversight of the Manager’s ESG related policies to ensure the Manager and the Company are effective in meeting their social and regulatory requirements and achieving their objective of being a socially responsible corporate entity. Download the ESG Committee's Terms of Reference.

The Risk Committee reports to the partnership Board of the Manager and is responsible for identifying, recording and measuring risks of the Manager, and implementing controls to mitigate such risks. In addition, it has oversight of the risk assessments made by Tritax Big Box REIT plc as well as the other Funds managed by Tritax Management LLP, to amplify the focus on risk and to ensure Tritax Big Box REIT is alerted to any new risks identified by the Manager and to ensure consistency across the Funds. The Risk Committee does not duplicate or replace the work of the Board’s Audit & Risk Committee but enhances the Manager’s support and reporting to the Board.

The Manager has set up a Green Finance Committee (“GFC”), as a sub-committee of its ESG Committee, to act on behalf of the Manager to oversee the application of any ‘green’ financing secured by the Company in order to ensure that selected assets or projects comply with the applicable criteria set out in the relevant financial instrument. It is also responsible for approving the Annual Green Finance Report and reviewing the Green Finance Framework to reflect any changes with regards to the Company’s sustainability strategy, change in market standards and criteria selection. Download a copy of the Green Framework. Download a copy of the Green Finance Committee Terms of Reference.

The Executive Committee is responsible for reviewing the corporate and capital strategy and activity of the Company. It considers all key operational items, including compliance, risk and liquidity. The Committee makes any necessary recommendations up to the Tritax Big Box REIT plc Board and will receive and review monthly reports before circulation to the Board. Download a copy of the Executive Committee's Terms of Reference

Board Committees

The Manager

Manager Committees