(Alliance News) - Grainger PLC said Thursday it has appointed Robert Hudson as chief financial officer, nabbing him from fellow FTSE 250 constituent St Modwen Properties PLC.
Shares in Grainger were 1.3% lower in London on Thursday morning at 268.80 pence each. St Modwen Properties was 0.9% lower at 394.46p each.
Newcastle-headquartered residential landlord Grainger said Hudson will join the company later this year, replacing Vanessa Simms - who informed the firm in October 2020 of her intention to step down as CFO during 2021.
Brownfield land and urban property investor St Modwen noted Hudson has a 12-month notice period and will continue to carry out his role in full until a mutually agreed departure date. The company has started the formal process to appoint a successor.
He is currently chief finance & operations officer of St Modwen Properties and from April 2020 was the interim chief executive, relinquishing this role when new CEO Sarwjit Sambhi joined in November.
St Modwen Non-Executive Chair Danuta Gray said: "During his time with St Modwen, Rob has provided valued financial expertise and leadership to the business. We would like to thank him for his significant contribution, hard work and commitment which has been key to the ongoing strength of the business."
Hudson has over 26 years' experience in finance and real estate. Immediately prior to St Modwen he was group financial controller at FTSE 100-listed real estate investment trust British Land Co PLC, from 2011 to 2015. From 2000 to 2011, he held senior financial roles at Experian PLC, including global finance director of the credit checker's Decision Analytics business and UK finance director.
Grainger Chief Executive Helen Gordon said: "We are delighted that Rob will be joining Grainger as our next CFO. His extensive experience and expertise within the UK real estate sector will bring a valuable contribution to Grainger as we continue to invest responsibly, drive growth and continually improve the business, while delivering strong results and attractive shareholder returns. On behalf of the board and all of my colleagues, I welcome Rob to Grainger and look forward to working with him."
By Paul McGowan; paulmcgowan@alliancenews.com
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Grainger plc (GRI)