(Alliance News) - Land Securities Group PLC on Tuesday confirmed the start date of its recently appointed chief executive, Mark Allan.
In November, the property developer had announced the hire of the St Modwen Properties PLC chief executive but did not provide a definite start date, only stating that he would commence duties before June. On Tuesday morning, it said that Allan will join the company on May 1.
St Modwen on Tuesday said Chief Financial Officer Rob Hudson will become interim CEO until a new chief executive is appointed.
Before St Modwen, Allan was previously chief executive of student accommodation provider Unite Group PLC.
At Land Securities, he is taking over from the current chief executive, Robert Noel, who will step down at the end of March, after spending ten years with the firm. During April, Chief Financial Officer Martin Greensdale will take the helm in addition to his financial duties.
Upon the announcement of Allan's appointment in November, 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."
Shares in Land Securities were up 1.1% at 956.00 pence each on Tuesday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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