Simon Carter’s promotion to chief executive of British Land from chief financial officer has not come as a huge surprise to the market. He has been the favourite for the position ever since it became public knowledge that Chris Grigg was planning to step down after 11 years in the role.
While Carter obviously knows British Land well, having been head of strategy at the REIT before leaving in 2015 for roles at Quintain and Logicor and then being tempted back in 2018 to take over the chief financial officer role from Lucinda Bell, he will become chief executive at a time when the world of real estate is going through fundamental changes. A time when trading is going to be tough. A time when economic turbulence will become a much-quoted phrase.
Steering the business
But Carter is excited to take on the role. It is the start of a big tick next to an ambition. The CFO role, he says, was something he had always aspired to, but that it was “absolutely fantastic” to take an even stronger management role.
And Carter hopes that his CFO background coupled with the broader roles he has held within the business, particularly around sustainability and investment, will mean he is the kind of CEO who can continue to develop and grow the business and successfully steer it through the inevitably tumultuous times ahead.
He says that under Grigg, British Land has developed into a “first rate” platform, whereby all facets of the business can work together. He cites the Covid-19 crisis as an example of this, with the team able to respond and react quickly to the needs of its tenants, staff and investors.
“I’ve got big shoes to fill,” admits Carter. “And we have a tough macro environment with Covid not over and Brexit to deal with – but with the business we have, I feel that out of a bumpy environment come great opportunities.”
And Grigg, says Carter, has instilled a lot of advice in him during his stints at British Land. Chief among them, thinking about the big picture. “Find the time for strategic thought and don’t let the day job take over, is what I’ve learnt from Chris,” says Carter.
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