Intu Properties PLC (LON:INTU) has dashed press reports that it is close to appointing a new boss, with the shopping centres group saying the search for a successor to its chief executive is “on-going and no decision has yet been made.”
The Sunday Times had reported that the FTSE 250-listed firm - which owns the Trafford Centre in Manchester and Lakeside in Essex - was understood to be favouring former Travis Perkins PLC (LON:TPK) chief operating officer David Buffin as its preferred candidate to replace current CEO David Fischel.
READ: RBC warns highly-leveraged Intu will be worst hit by any more retail CVAs
Buffin was chief financial officer at Travis Perkins between 2013 and 2017 before becoming its chief operating officer. He left the building supplies retailer in February 2019.
Intu boss Fischel - who has been at the helm at the dual London and Johannesburg listed firm since 2001 - announced his intention to stand down from his position in July 2018.
In a brief announcement on Monday, Intu simply confirmed that, as announced at the time of its annual results announcement on 20 February 2019, the search for a new CEO is ongoing and an announcement will be made in due course.
In late afternoon trading, shares in Intu were 2.1% higher at 108.80p.