Big Yellow Group PLC shares slipped 1.1% on Monday after the company confirmed that Jim Gibson, a co-founder and its long-standing chief executive, will retire in July 2026.
Gibson, who co-founded the business in September 1998 and has been CEO since 2003 - a tenure of 23 years - will step down from both the executive role and the board on July 20, 2026, following the company’s Annual General Meeting, the company said.
The business announced that Chief Operating Officer John Hunter will assume the role of chief executive. Hunter was hired as COO in April 2024 and was added to Big Yellow’s board in July 2025.
Hunter’s prior experience, as outlined by the company, includes serving as UK Chief Operating Officer at HomeServe PLC and holding senior management positions at Dixons Carphone PLC. The company also states that Hunter qualified as a Chartered Accountant with Arthur Andersen in 2001.
Executive Chair Nicholas Vetch commented that the handover follows a transition plan that has been under way for nearly four years. The statement also noted Gibson’s role in building Big Yellow into a market-leading UK self-storage brand with a market capitalization of £2 billion.
The board’s announcement made clear that the formal change of leadership will take effect after the Annual General Meeting on July 20, 2026. The immediate market reaction was modest, with the group’s shares down 1.1% on the day the retirement and succession plan were revealed.
This leadership change replaces a long-tenured CEO who has guided the business since 2003 with an internal successor who joined the company in 2024 and joined the board in 2025. The company described the succession as the product of several years of planning rather than an abrupt decision.
Context provided by the company:
- Jim Gibson - co-founder in September 1998; CEO since 2003; will step down from role and the board on July 20, 2026.
- John Hunter - appointed COO in April 2024; added to the board in July 2025; previously UK COO at HomeServe PLC and held senior roles at Dixons Carphone PLC; qualified as a Chartered Accountant with Arthur Andersen in 2001.
- Executive Chair Nicholas Vetch said transition planning has been nearly four years in the making; company market capitalization cited at £2 billion.