The Crown Estate CEO to step down in 2019
The Crown Estate CEO Alison Nimmo has announced plans to step down from her role at the end of December 2019, after eight years at the helm of the property giant.
Created by Act of Parliament, The Crown Estate owns property on behalf of the Crown, with a portfolio including prime retail space on Regent Street and St James’s, as well as 13 regional retail parks.
Nimmo will continue to lead the commercial business for the next 18 months to complete her second four-year term.
Chairman Robin Budenberg commented: “Two full terms as Chief Executive will mark an exceptional and dedicated eight years during which time Alison has built a talented team, transformed the business and delivered outstanding results.”
Nimmo was the first woman to be appointed chief executive of The Crown Estate in 2011, joining from the Olympic Delivery Authority where she served as director of design and regeneration.
She said: “We have now embarked on the next phase of our transformation to a business focused more on customer and strategic services, leveraging our scale and deep expertise. This transformation will need a CEO with a long term commitment and so next year is the right time for me to ‘pass the baton’ to a new leader.
“But I’m not going anywhere for the next 18 months and I look forward to another very busy and exciting year, after which I hope to continue to pursue my passion for sustainable cities; leading great teams; and working with purpose driven businesses.”
This week, The Crown Estate revealed that it delivered £329.4m in income to the Treasury in the year to 31 March 2018. During the period, the business extended its interest in strategic areas including Oxford Circus and Fosse Shopping Park in Leicester, and signed new retail lettings in the West End to Asics, L’Occitane, Aspinal of London and H&M’s Arket.
Meanwhile, its 13 regional destinations welcomed 100 million visitors and the portfolio completed over 470,000 square feet of lettings.
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