British Land has revealed that chief financial officer Simon Carter will become the company’s new chief executive.
Current CEO Chris Grigg will step down at the end of the year and will deliver the company’s 2021 interim results on 18 November.
It marks the end of a nearly seven-month search for a successor, after the REIT announced Grigg was preparing to step down as chief executive after more than a decade running the company.
Carter has been the company’s CFO since 2018, when he joined the company from Logicor, where he had been chief financial officer since 2017.
Prior to that he was Quintain Estates & Development’s finance director, and also previously spent more than 10 years working at British Land in senior leadership positions.
Carter’s basic salary will be £750,000 per annum.
Grigg said: “It has been a privilege to lead British Land over the last 11 years, but I am confident that now is the right time to hand over to Simon.
“We have significantly repositioned our portfolio towards our London mixed-use business and, through our campuses, we have created three world-class neighbourhoods for London that not only resonate with our customers but truly benefit their local communities.”
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