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(Alliance News) - Land Securities Group PLC on Thursday said Chief Executive Robert Noel intends to retire during 2020 after spending ten years with the commercial property investment company.
The FTSE 100 commercial property developer said it will start a formal search process to find a successor. Noel will continue in his role until his successor is appointed and for an appropriate handover period, Land Securities said.
"Under his leadership Landsec has developed iconic buildings, especially in Victoria, in the City and at Westgate in Oxford. We respect his decision to retire after nearly eight years as chief executive and look forward to continuing to work with him until a successor is in place," said Chair Cressida Hogg.
"I've been fortunate to lead talented and dedicated teams as we've transformed the portfolio, culture and financial strength of the business over the last decade," added Noel. "With the business well positioned for the current market, a growing pipeline and a clear strategy for the future, it's the right time for me to move on."
Land Securities shares were trading 0.7% higher at the open in London Thursday morning at 843.30 pence each.
