British Land chief operating officer John Weston Smith is to retire from the company next summer.
Weston Smith, 73, will retire after 34 years with company following British Land’s next annual general meeting in July 2006.
Peter Clarke and Tony Braine, currently both executive directors at British Land, will take over from Weston Smith.
From 1 October Clarke with join British Land’s executive committee, of which Braine is already secretary.
Weston Smith joined British Land in 1971 and has been executive director since 1973.
He served as finance director from 1989 until being appointed to his current role in 2002.
Chief executive Stephen Hester said: “It is with sadness that we have agreed with John his retirement plans, but characteristic of the man that the handover to our next generation of management be well planned and executed.
“He has been a great influence within the company and we will all miss him.
“I look forward to working with John for several months more and then properly celebrating his contribution to the company when he steps down.”
References: EGi News 02/09/05
