19 Jun 2019 07:02
19 June 2019
CAPITAL & COUNTIES PROPERTIES PLC ("Capco")
Board update
Capital & Counties Properties PLC ("Capco") announces that Gary Yardley, Managing Director & Chief Investment Officer, will step down from the Board and leave the Company on 30 June 2019. The roles will not currently be directly replaced on the Board.
The Company's Earls Court investments will be led by Mike Hood, Group Development Director (who has been appointed as Managing Director, Earls Court) as preparations advance for a possible demerger. Mike joined the Company in 2011, has operational responsibility for Earls Court, including the development management activities of the ventures with TfL, KFI and Network Rail, and has successfully delivered a number of significant projects including Lillie Square.
Gary Yardley, Managing Director & Chief Investment Officer, said:
"Capco is a special company with a remarkable investment portfolio and dedicated people. I am proud of the success we have achieved at Capco and in particular of the exciting and unique opportunity we have created at Earls Court, a project of significant vision and ambition. I wish Ian, my colleagues and the business every success for the future, as I take some time out to focus on my other interests and improving my health."
Henry Staunton, Chairman, commented:
"Gary is an exceptionally talented real estate professional and has made an enormous contribution to creating one of the most important development opportunities in London. We are sorry to see him depart the Company and thank him for his extraordinary efforts over the past 12 years, wishing him good health and success in the years to come."
Ian Hawksworth, Chief Executive, added:
"Gary has shown commitment and enthusiasm to both the business and its people and I would like to extend my personal thanks to him for his significant contribution. We wish him well in his future plans, both personal and professional. Gary has developed a talented and experienced team at Earls Court and under Mike's leadership they will ensure we remain focused on executing our strategy to maximise the potential of this unique London investment as we prepare for a separation of Covent Garden and Earls Court."
Enquiries
Capital & Counties Properties PLC
Ian Hawksworth | Chief Executive | +44 (0)20 3214 9188 |
Situl Jobanputra | Chief Financial Officer | +44 (0)20 3214 9183 |
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Media enquiries
Sarah Hagan | Director of Communications | +44 (0)20 3214 9185 |
UK: Tulchan | Jessica Reid | +44 (0)20 7353 4200 |
SA: Instinctif | Frederic Cornet | +27 (0)11 447 3030 |
Notes to Editors
About Capital & Counties Properties PLC (Capco)
Capital & Counties Properties PLC is one of the largest investment and development property companies that specialises in central London real estate and is a constituent of the FTSE-250 Index. Capco's landmark London estates at Covent Garden and Earls Court were valued at £3.3 billion as at 31 December 2018 (Group share). The company is listed on the London Stock Exchange and the Johannesburg Stock Exchange. www.capitalandcounties.com