Landsec names Ian Cheshire chair

(Sharecast News) - City veteran Ian Cheshire has been named chair designate of Land Securities Group.

He will join the board of the blue chip commercial property firm as non-executive director on 23 March before succeeding current incumbent Cressida Hogg on 16 May. Hogg is retiring after nearly five years as chair and more than nine years on the board.

As a result of the appointment, Cheshire will step down from the board of BT Group, where he has been a non-executive director since March 2020, at the July annual general meeting.

He will also step down as chair of Menhaden Resource Efficiency, but will retain the role at Channel 4 and at Spire Healthcare Group. Cheshire was appointed chair of the broadcaster in April 2022 and will hold the role until 2025.

Cheshire said: "Landsec has clear strategic and operational momentum, and I look forward to working with [chief executive] Mark [Allan], the board and the management team to continue executing this strategy and to ensure we are well positioned to take advantage of opportunities that emerge in UK property markets in the years ahead."

BT said he had been a "distinguished member of the board", and that the search for additional non-executive directors was now underway.

Cheshire's long career in the City has focused primarily on retail. His most recent executive role was as chief executive of DIY specialist Kingfisher, which he held for seven years until 2015.