Sir Stuart Rose will step down from Land Securities’ board on 1 January 2014 after 11 years with the company.
The REIT has also announced that Cressida Hogg and Edward Bonham Carter will join as independent non-executive directors when Rose’s tenure ends.
Hogg is managing partner, infrastructure at private equity firm 3i and has advised on all transactions made by 3i Infrastructure since its floatation in 2007.
Bonham Carter, 53, is the chief executive at Jupiter Fund Management, the FTSE 250 fund management group. He oversaw the company’s MBO in 2007, its successful IPO in 2010 and has increased funds under management to £29.9bn.
Rose joined the Land Securities board in 2003 and is not currently a member of any board committees. It is anticipated that Cressida Hogg will join the audit committee upon appointment and Bonham Carter will join the remuneration committee.
Land Securities chairman Alison Carnwath said: “I would like to place on record my appreciation of the service Stuart has given to Land Securities and its shareholders for the past 11 years. He has been an outstanding non-executive and helped steer the company through a challenging period.
“The diverse skills and experience of Cressida Hogg and Edward Bonham Carter will add both depth and breadth to the board.
“Cressida is an authority on infrastructure investment and its impact on property, while Edward’s experience as a fund manager and chief executive of a public company will bring added perspective.
“With these appointments I am confident that we have secured leading directors from the next generation.”
