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Land Securities' chief executive, Robert Noel, to quit next year

Published: 08:34 11 Jul 2019 BST

London skyline
"Under his leadership Landsec has developed iconic buildings, especially in Victoria, in the City and at Westgate in Oxford," said Cressida Hogg, LandSec's chairman

Robert Noel, the chief executive officer at real estate investment trust Land Securities Group PLC (LON:LAND), is to step down from the role next year.

A formal search process has now kicked off to find his successor; until that process is complete, Noel will remain in the role.

READ Land Securities posts wider loss as tough retail market weighs on portfolio

Noel joined Land Securities in 2010 and became the chief executive in 2012.

The company, which owns a number of shopping centres including the Bluewater estate in Grays, Essex, has been going through a tough time of late as a result of changes in shopping habits.

The company said in May it sees no near-term improvement in retail market conditions with company voluntary arrangements likely to continue.

Shares in Land Securities were up 0.8% at 844.2p in early deals in a market that was up 0.2%.

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