Hammerson PLC (LON:HMSO) has appointed former AIG director James Lenton as its new chief financial officer.
He will join the under-pressure shopping centre developer as a director on 16 September and will take over the CFO role at the start of October.
Current CFO Timon Drakesmith, who quit in May, will stay on for a six-week handover period and leave on 15 November.
Lenton has been CFO and board member of AIG's European arm for four years, having joined the US insurance giant in 2013 after rising to partner at EY.
Hammerson, which like most of its peers has been hit hard by structural changes in the retail industry, highlighted that Lenton had responsibility at EY for “developing a new global strategy” for one of EY’s practices.
Chair David Tyler also drew attention to the new CFO’s “significant success in working with and managing complex organisations which are experiencing periods of substantial change”.
Shares in Hammerson fell another 1% on Wednesday morning to 203.7p, further extending what has been a 58% decline over the past 12 months.