Mark Preston has been named as replacement to Grosvenor chief executive Jeremy Newsum who is leaving after 20 years in the top job.
Preston, 39, is promoted from his role as head of the UK business.
Grosvenor was forced to set aside £140m for cost overruns on its Liverpool One redevelopment in April but this is reported to be unconnected to the 52-year-old’s departure.
Newsum remains an executive trustee.
07/12/07 Financial Times 20 Times 59
