Last checked at 26 Feb 2020 07:00
26 February 2020
CAPITAL & REGIONAL PLC ("Capital & Regional" or "the Company")
UK company number 01399411
LSE share code: CAL
ISIN: GB00BL6XZ716
LEI: 21380097W74N9OYF5Z25
APPOINTMENT OF DAVID HUNTER AS NON-EXECUTIVE CHAIRMAN
Capital & Regional, the convenience and community focused shopping centre REIT, announces the appointment of David Hunter as non-executive chairman, which is proposed to take effect at the conclusion of the 2020 Annual General Meeting on 20 May 2020. David will initially join the board as a non-executive director from 9 March 2020.
David has an exceptional track record in supporting growth and representing shareholders in UK and international real estate businesses. His extensive and broad experience includes his current roles as chairman at Custodian REIT Plc and as a non-executive director of GCP Student Living Plc as well as other previous board level positions in the UK and overseas. He is a Senior Adviser to ICG-Longbow, the leading real estate debt fund manager.
Earlier in his career, David was a leading fund manager, most significantly from 2001 to 2004 when, as managing director of Aberdeen Property Investors, he oversaw the business' £6.5 billion UK and international assets. In 2004, David was the President of the British Property Federation.
David will be taking over from Hugh Scott-Barrett, who after 12 years of valued contribution to the Company, first in his role as CEO for nine years and most recently as chairman, advised the board of his wish to not seek re-election as non-executive chairman at the AGM in May 2020.
Lawrence Hutchings, Chief Executive of Capital & Regional commented: "I'd like to thank Hugh on a personal level for the support he has extended to me over the past three years and for his invaluable contribution to Capital & Regional over the past 12 years, during a time of significant change for the sector, both in his role as CEO and more recently as Chairman.
"David's extensive experience and commercial knowledge will be invaluable to Capital & Regional as we look to further enhance our portfolio and deliver on our community shopping centre strategy, on behalf of our shareholders."
Hugh Scott-Barrett, Chairman of Capital & Regional added: "It has been a great privilege to have served as CEO and subsequently chairman of Capital & Regional, during a time when the Company has undergone a series of important and significant changes. I now leave the company in a robust position with a strong management team in place, determined to continue navigating the evolving retail climate while delivering on a clear strategy with the resolute support of new shareholders in Growthpoint.
"I am pleased to welcome David to the board. He brings a proven track record and I wish him every success in his new role."
Commenting on his appointment, David Hunter said: "I am excited about the opportunity of working with Capital & Regional and helping drive the many opportunities I believe the business holds. These are clearly challenging times for the retail property sector, but with the support of an excellent management team, I hope to contribute effectively to the implementation of the clearly identified community shopping centre strategy on behalf of our shareholders."
For further information:
Capital & Regional plc 020 7932 8000
Lawrence Hutchings
Stuart Wetherly
FTI Consulting 020 3727 1000
Richard Sunderland
Claire Turvey
Methuselah Tanyanyiwa
capreg@fticonsulting.com
About Capital & Regional plc
Capital & Regional is a UK focused specialist property REIT with a strong track record of delivering significant value enhancing retail and leisure asset management opportunities across its portfolio of in-town, dominant community shopping centres.
Capital & Regional owns seven shopping centres in Blackburn, Hemel Hempstead, Ilford, Luton, Maidstone, Walthamstow and Wood Green. Capital & Regional manages these assets through its in-house expert property and asset management platform.
For further information see www.capreg.com.