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(Alliance News) - Capital & Regional PLC on Wednesday said it has appointed current Custodian REIT PLC Chair David Hunter as its own non-executive chair.
Hunter's appointment to Capital & Regional is to take effect at the conclusion of the company's May 20 annual general meeting, although he will initially join at a non-executive director on March 9.
The new chair will take over from Hugh Scott-Barrett, who has spent 12 years with the company, nine as chief executive and then most recently as chair. Scott-Barrett will not seek re-election at the May 2020 AGM.
Capital & Regional Chief Executive Lawrence Hutchings said: "I'd like to thank Hugh on a personal level for the support he has extended to me over the past three years and for his invaluable contribution to Capital & Regional over the past 12 years, during a time of significant change for the sector, both in his role as CEO and more recently as chairman.
"David's extensive experience and commercial knowledge will be invaluable to Capital & Regional as we look to further enhance our portfolio and deliver on our community shopping centre strategy, on behalf of our shareholders."
Capital & Regional shares were 0.3% lower in London on Wednesday at 200.35 pence, but were 4.7% higher in Johannesburg at ZAR42.49.
By Anna Farley; annafarley@alliancenews.com
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