(Alliance News) - Schroder European Real Estate Investment Trust PLC said Tuesday its Global Head of Real Estate Duncan Owen will step down at the end of 2020.
From January 1, 2021 onwards, Owen will act as a special advisor to the real estate investor.
"In this capacity, he is expected to work with the board and the investment manager's existing team to help drive the company's strategy and assist in maintaining continuity, including attending board meetings as necessary," Schroder European REIT added.
Despite Owen's departure, Schroder European REIT said its investment strategy and asset management objectives will remain unchanged.
"The board will continue to monitor the situation," the firm added.
Shares in Schroder European REIT closed 6.9% higher in London on Tuesday at 74.80 pence each. In Johannesburg, the shares added 7.7% to end at ZAR15.95.
By Paul McGowan; paulmcgowan@alliancenews.com
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Schroder Eur.r (SERE)