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Intu turns to former Crest Nicholson man to fill CFO role

Robert Allen left Crest Nicholson last year when the housebuilder issued a profit warning.

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From 1998 to 2016 Allen worked at the fags maker, BATS

Property group Intu Properties PLC (LON:INTU) has appointed former Crest Nicholson bean counter Robert Allen as its new chief financial officer.

Prior to a two-year stint at housebuilder Crest Nicholson Holdings PLC (LON:CRST), Allen held a number of senior finance roles at British American Tobacco PLC (LON:BATS).

READ Intu warns rental income fall will be greater-than-expected in 2019 as it predicts wave of retail CVAs

Allen’s departure from Crest Nicholson was announced in October 2018 on the day it warned on profits.

“He will bring to intu his extensive and highly relevant experience of refinancings, M&A [mergers & acquisitions], treasury, IT [information technology] and investor relations, helping drive our strategy of delivering strong underlying centre performance, adapting to the fast-changing retail environment and making smart use of capital,” said Matthew Roberts, the chief executive officer of Intu.

Barbara Gibbes who has been acting as the interim chief financial officer will resume her duties as director of finance with effect from 10 June 2019, reporting to Allen.

Quick facts: Intu Properties PLC

Price: 12.155 GBX

LSE:INTU
Market: LSE
Market Cap: £164.71 m
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