Capital & Regional Regulatory News (CAL)

6 Dec 2007 07:01

Capital & Regional plc06 December 2007 6 December 2007 CAPITAL & REGIONAL PLC: SUCCESSION The Board of Capital & Regional plc, the co-investing property asset managerannounces that Martin Barber, CEO, has indicated that he intends to retire onhis 65th birthday which is 3 August 2009. The Board has agreed with Martin that the steps to select a successor should nowbegin so that the best possible appointment can be made to lead the companythrough the next stage of its development. Martin Barber, Chief Executive, said "Although my birthday is 20 months away, Ifeel that the company needs to start considering the next 28 years. Thisenables the company to have plenty of time to find my replacement. I lookforward to working with the Board to establish Capital & Regional's position forthe long term". Tom Chandos, Chairman, said "We have agreed with Martin that in light of hiswishes, we should start a timely process of selecting his successor". Notes to editors: About Capital & Regional plc Capital & Regional is the co-investing asset manager which specialises in towncentre shopping centres, out of town retail parks, and urban entertainmentcomplexes. Capital & Regional founded the Mall and Junction Funds in conjunction withMorley Fund Management. It also founded the X-Leisure fund with HermesInvestment Management Limited, and has a number of other joint ventures anddevelopments. Its shares are quoted on the London Stock Exchange. For furtherinformation see www.capreg.com - ENDS - For further information: Capital & Regional:Martin Barber, Chief Executive Tel. 020 7932 8101Tom Chandos, Chairman Tel: 020 7290 5201 MaitlandEmma Burdett Tel: 020 7379 5151Martin Leeburn Tel: 020 7379 5151 This information is provided by RNS The company news service from the London Stock Exchange