New Landsec CEO takes up post on May 1
Landsec, the UK landlord behind key malls such as Bluewater in Kent, Westgate in Oxford, and Trinity Leeds, on Tuesday announced that Mark Allan will start as its CEO and a director on May 1.
His appointment had been originally announced in November but with no specific start date given at the time.
The company had started a CEO search after current incumbent Robert Noel said last summer that he was planning to step down. And it’s now been confirmed that he’ll quit as CEO and as a director on March 31.
That won’t leave Landsec rudderless in the intervening month with finance chief Martin Greenslade stepping up as acting CEO until Allan arrives.
Allan joins at a difficult time for the UK property sector with retail under pressure as Brexit-induced consumer caution and the shift to online has devastated physical retail.
Landsec hasn’t been immune to this. Last November when it released its half-year results, it reported a slight increase in revenues, but it swung to a pre-tax loss from a profit the year before and the overall value of its properties dipped in the period.
But more recently it has announced a raft of big-name signings and although its overall footfall has dropped, the company’s prestige malls are still attracting a higher footfall level than the national average at present.
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