Mark Allan, chief executive of St Modwen, is to take over from Rob Noel as chief executive of Landsec.
He will take up the role from a date expected to be no later than 1 June.
Allan joined St Modwen from student accommodation provider Unite in 2016.
Landsec chair Cressida Hogg said: “Mark has been a highly successful chief executive of two companies in the property sector. He has demonstrated strong management skills and the strategic insights that we believe will build on the strengths of our business today and be invaluable for the next phase of Landsec’s evolution”
Allan said “Landsec is an iconic property company with a fantastic heritage and I am delighted to have the opportunity to lead it. The world of real estate is undergoing significant change and I am confident, with the skills and experience already in place, that great opportunities lie ahead.”
Landsec said Noel would continue as chief executive for the time being with a further announcement made in due course regarding his leaving date.
Allan will leave St Modwen at the end of May. The search has begun to find his successor.
Danuta Gray, non-executive chair of St Modwen, said: “While we will be disappointed to see Mark leave, we have achieved an enormous amount over the past three years while he has been in post.
“We now have a clear strategy focused on sectors with strong structural growth characteristics, an aligned and talented management team in place to deliver, plenty of financial capacity and a deep pipeline of opportunities, all of which continue to underpin our growth ambitions.”
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