Capital & Regional PLC announced the resignation of Lawrence Hutchings from his role as Chief Executive. During his tenure, Hutchings played a key role in repositioning the company's portfolio towards convenience and community-focused shopping centers. The Board will initiate a formal process to find a successor, and Hutchings will continue as Chief Executive during this transition. The company is well-positioned following its acquisition of Gyle shopping center, with like-for-like net rental income and valuations up in the year to 30 December 2023.
David Hunter, Chairman of Capital & Regional, expressed gratitude for Hutchings' leadership and highlighted the company's strong position. Hutchings, in turn, thanked the Board and the team for their support and expressed confidence in the company's potential. The announcement also included contact information for further inquiries. This announcement contains inside information and was arranged by Stuart Wetherly, Company Secretary and Chief Financial Officer.
Capital & Regional is a UK-focused retail property REIT specializing in shopping centers that cater to the non-discretionary and value-oriented needs of local communities. The company owns and manages shopping centers in Edinburgh, Hemel Hempstead, Ilford, Maidstone, Walthamstow, and Wood Green. It is listed on the main market of the London Stock Exchange (LSE) and has a secondary listing on the Johannesburg Stock Exchange (JSE).