Americold Realty Trust, Inc. on December 22 announced the appointment of Joseph Reece, a managing partner of SilverBox Capital LLC (pictured above), and Stephen Sleigh, a senior advisor at Blue Wolf Capital Partners, to its board of directors.
The Atlanta, Georgia, USA-headquartered global refrigerated warehousing operator’s board has also formed a finance committee made up of existing and new directors. 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.
“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 and chairman of the nominating and corporate governance committee. “They bring considerable governance experience as well as expertise in corporate finance, capital markets transactions, and labor relations and shareholder engagement.”
The finance committee will focus on reviewing Americold’s portfolio by region, market and sub-market and, in turn, making recommendations about prospective sales or divestitures, including potential international divestitures. It will also be focused on identifying opportunities to further reduce debt, maintain the company’s dividend and preserve core assets for the long-term benefits of customers, employees and shareholders. David Neithercut and Mr. Reece will respectively serve as chairman and vice chairman, with Mr. Sleigh and two other 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,” said CEO Rob Chambers. “This announcement, including collaboration with Ancora, highlights our commitment to regular, ongoing board refreshment and driving value for Americold’s shareholders.”
In business for more than 120 years, Americold operates more than 230 facilities across North America, Europe, Asia-Pacific, and South America offerings approximately 1.4 billion refrigerated cubic feet of space. Its business is an an integral part of the global food supply chain, connecting producers, processors, distributors, and retailers with tailored, value-added services supported by responsive and reliable supply chains.
