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26 Jul 2018 07:01
26 JULY 2018
intu properties plc ("intu" or the "Company")
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
LEI: 213800JSNTERD5CJZO95
Regulated Information Classification: Inside Information
intu announces that David Fischel, Chief Executive, will be standing down from the Board and leaving intu once a successor to David has been appointed.intu's Chairman, John Strachan, said:
"David has been with the Group since 1985, and Chief Executive since 2001, a period which has included transformative events such as the demerger of Capital & Counties in 2010, the intu Trafford Centre transaction in 2011 and the rebranding as intu in 2013. He has played a major role in intu becoming the UK's leading owner, developer and manager of large scale regional shopping centres with some £10 billion of assets.Under the proposed Hammerson merger, David was expecting to stand down upon the transaction completing. That transaction is no longer proceeding, and the Board is enormously grateful to David for agreeing to remain in post for a longer period than he had envisaged, giving the Board sufficient time to search for a suitable successor.I would like also to extend my personal gratitude for the substantial contribution David has made to this business over many years."intu will provide further detail on timing once a successor has been identified.
Enquiries:
intu properties plc
John Strachan Chairman +44 (0) 207 960 1201
Amanda Campbell Communications Director +44 (0) 207 960 1241
Adrian Croft Head of Investor Relations +44 (0) 207 960 1212
Public relations
UK: Justin Griffiths, Powerscourt +44 (0) 207 250 1446
SA: Frédéric Cornet, Instinctif Partners +27 (0) 114 473 030
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