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Hammerson boss to leave after ten years in the role

He will remain in position until spring 2021 at latest while the board looks for a replacement

Hammerson - Hammerson boss to leave after ten years in the role

Hammerson PLC’s (LON:HMSO) chief executive David Atkins has announced his departure from the troubled property giant after ten years in the role.

He will remain in position until spring 2021 while the shopping centre developer looks for a replacement.

READ: Hammerson suffers blow as retail parks disposal deal collapses

“The current environment, exacerbated by the impact of Covid 19, is undoubtedly the most challenging we have faced as a business,” Atkins commented.

“I feel now is the right time to search for a new chief executive, a person who can not only lead the business as we emerge from this period, but also into its next chapter.”

The firm, which has been hit hard by the coronavirus crisis due to its focus on retail locations, saw a £400mln sale collapsing last month after the buyer pulled out.

Shares, which plunged by over 60% in the past three months, rose 4% to 77.3p on Wednesday at the opening bell.

Quick facts: Hammerson

Price: 26.29138 GBX

LSE:HMSO
Market: LSE
Market Cap: £1.02 billion
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