The most senior property director at CLS Holdings has left the company, prompting a management shake up at the FTSE 250 office investor.
Head of group property Simon Wigzell left the company this month after more than a decade overseeing CLS’s circa £2.2bn portfolio in the UK, Germany and France.
In that time, Wigzell helped bring some of CLS’s biggest schemes to sale, including a major redevelopment at Vauxhall Square, SW8, which the company sold to Chinese developer R&F Properties for £157m.
CLS said Wigzell had left “to pursue new challenges in his career”. He was unavailable for comment on where he is heading next.
The departure has come at the same time as a rejig of CLS’ management structure, in a bid to “simplify reporting lines and align better with the geographical spread of the business”.
Its directors of British, French and German properties will now report directly to CEO Fredrik Widlund, where Wigzell had previously overseen them.
The company said the move would allow country heads to get more involved with stakeholder and investor engagement. Roughly half of CLS’s portfolio is in the UK, with a little over one-third in Germany and nearly one-sixth in France.
Head of HR and company secretary David Fuller has been promoted to chief operating officer, while head of development Rachel Broughton and financial controller Francesca Fear will join the company’s senior leadership team.
Widlund said: “The changes announced today will simplify our structure to ensure we are as agile as possible. I would like to congratulate David, Rachel and Francesca on their well-earned promotions.”
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