(Alliance News) - Empiric Student Property PLC on Friday said it has named Duncan Garrood as its new chief executive officer from January.
Garrood is currently CEO at tenpin bowling firm Ten Entertainment Group PLC, a role he's held since 2018, and was formerly commerical director at BAA PLC, now Heathrow Airport Holdings Ltd. Empiric said he oversaw the growth of World Duty Free and the commercial development of Heathrow Terminal 5.
The current CEO of the student property firm, Tim Attlee, will step down at the end of June. Chief Financial & Operating Officer Lynne Fennah will take on "additional executive responsibility", Empiric said.
Ten Entertainment meanwhile, said "a search for a high-quality successor will now begin with immediate effect". Garrood will remain with the tenpin firm until the end of the year.
Nick Basing, currently its non-executive chair and one-time CEO, will step in as interim executive chair until the search for a new CEO is complete.
Empiric Chair Mark Pain said: "I am delighted to announce that we have appointed Duncan as our new CEO. He is a strong and proven business leader with excellent business development and operational capabilities and extensive experience in commercial businesses with significant real estate assets. The board has conducted a thorough search process to find the best candidate and we are delighted to have appointed Duncan to lead Empiric."
Shares in the company were 1.5% higher at 56.10 pence each in London on Friday morning. Ten Entertainment shares were 7.4% lower at 167.60p each.
By Eric Cunha; ericcunha@alliancenews.com
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Empiric (ESP)