(Alliance News) - British Land Co PLC on Thursday said Chief Executive Chris Grigg intends to step down in November and will be succeeded by current Chief Financial Officer Simon Carter.
Grigg will depart on November 18, when London-based British Land publishes its financial 2021 interim results, after more than 11 years as CEO.
Carter, who has held the CFO role since he rejoined the firm in May 2018, was previously CFO of Logicor and before that finance director of Quintain Estates & Development PLC. Prior to that, he was at British Land for more than 10 years in various roles such as head of the company's Strategy, Corporate Finance and Treasury teams.
Carter's basic salary will be GBP750,000 per annum while his other benefits will remain unchanged.
FTSE 100-listed real estate investment trust British Land said it will announce Carter's successor as CFO in due course.
Shares in British Land were down 1.5% at 348.50 pence each in London on Thursday morning.
By Anna Farley; annafarley@alliancenews.com
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British Land (BLND)