(Alliance News) - LXi REIT PLC said on Friday it appointed a new chair and senior independent director to its board.
The London-based UK commercial property investor said that Cyrus Ardalan will take the role of chair immediately, replacing Stephen Hubbard. Ardalan is chair of London-based OakNorth Bank, a bank for small and medium-sized companies.
Hugh Seaborn becomes senior independent director, replacing Colin Smith with immediate effect. Seaborn is chief executive of property investment company Cadogan Group Ltd.
Ardalan said: "The company is in excellent shape and very well positioned to continue to deliver further attractive inflation-protected income returns and capital growth for our shareholders."
Shares in LXi REIT were flat at 141.10 pence on Friday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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