Capital & Regional executive director Ken Ford will step down from the board on 9 May.
Ford will remain with the property company on a full-time basis and continue to lead a number of key development initiatives until 31 December, at which point it is expected he will become an adviser to the company.
Blackstone’s Lawrence Hutchings is to become chief executive on 13 June, on which day chief executive Hugh Scott-Barrett will become non-executive chairman following the retirement of John Clare.
Scott-Barrett said: “Having been with Capital & Regional for 20 years, Ken was the driving force behind the growth of the Mall Fund and played a significant role in the reshaping of Capital & Regional since it converted to a REIT at the end of 2014.
“Ken has built a strong team and I am pleased he will remain involved to help ensure a smooth transition and to support Lawrence in the commencement of his role as chief executive. I would like to thank Ken on behalf of all who work at Capital & Regional.”
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