GPOR.L Regulatory News (GPOR)

18 Sep 2009 07:00



18 September 2009

Directorate Change Great Portland Estates plc ("GPE") announces that Robert Noel has resigned from the Board. He will leave the company at the end of the month and join Land Securities plc on 1 January 2010. The company also announces that Ben Chambers has been promoted to the Executive Committee as Investment Director, reporting to Chief Executive, Toby Courtauld. Ben has been an important member of the property team since 2002 with responsibility for new business, and has delivered some of GPE's most successful acquisitions, including at Hanover Square and the old Liberty store at 222 Regent Street. Toby Courtauld commented: "We are sorry to see Rob leave. He has made a major contribution as part of the team who joined the Group in 2002. He leaves with our thanks and best wishes. We are fortunate to have great strength in depth at GPE, with a wide range of considerable property expertise supporting the current executive team of Timon Drakesmith, Neil Thompson and me. This gives us an exciting opportunity to promote internal talent, and I am delighted that Ben is joining our Executive Committee. His promotion reflects the outstanding impact he has made over the past seven years."

Contacts:

Great Portland Estates plc 

Toby Courtauld  Chief Executive  020 7647 3042 

Timon Drakesmith Finance Director 020 7647 3034

Finsbury 

James Murgatroyd 020 7251 3801

Gordon Simpson

GREAT PORTLAND ESTATES plc is a central London investment and development company and a constituent of the FTSE 250 index. It aims to deliver superior returns to shareholders through active management, the application of development skills to create value and the maximising of equity returns through efficient capital structuring and flexible financing. GPE converted into a UK Real Estate Investment Trust (REIT) on 1 January 2007.

At 30 June 2009 GPE's portfolio, including its share of joint ventures, was valued at £1,029 million.