The Crown Estate has formally appointed former intu chief financial officer Robert Allen as its CFO.
Allen took up the role on an interim basis in March following Kate Bowyer’s announcement in January that she would be leaving the landed estate.
Prior to a short stint at intu (he joined in 2019), Allen also worked at Crest Nicholson and British American Tobacco.
Crown Estate chief executive Dan Labbad said: “Robert clearly brings deep experience across a range of sectors and markets, and I’m delighted that he is joining the Crown Estate. We recently set out an ambitious new strategy which seeks to optimise the value we create for the country. Recognising that this incorporates financial, environmental and social performance, Robert’s energy and experience will help ensure we are set up and delivering successfully for the future.”
Last month, the Crown Estate announced a restructuring of the business after more than £1bn was wiped off the value of its commercial real estate. The estate will focus on its offshore wind energy investment over the coming decades given the effect of the Covid-19 crisis on its London estate.
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