Directorate Change

RNS Number : 3871K

British Land Co PLC

18 December 2008

 



CHIEF EXECUTIVE APPOINTED AT BRITISH LAND

The Board of British Land confirmed today that Chris Grigg has been appointed Chief Executive of the Company. He will take up his duties in the New Year starting Monday, 12 January, 2009.

 

Mr Grigg, aged 49, was Chief Executive, Barclays Commercial Bank until November this year, having joined the bank in 2005 as Group Treasurer. Prior to Barclays, Chris held a broad range of leadership positions at Goldman Sachs where his career spanned 20 years. He rose to Partner of the firm working principally in its capital markets and derivatives businesses.

 

Chris Gibson-Smith, Executive Chairman, British Land, said: “Chris Grigg was chosen as new Chief Executive Officer after an extensive selection process which considered candidates with both property and non property backgrounds. He brings deep knowledge of the investment and financial sectors from his time at Goldman Sachs and wide management experience from his roles at Barclays. We believe his background and skills will blend strongly with those of British Land’s well established management team.”

 

Chris Grigg said: “I am delighted to be joining British Land. It is one of the world’s premier Real Estate Investment Trusts with a market leadership in the office and retail sectors and strong customer focus. I am enormously enthusiastic about the challenges that lie ahead and the opportunities they provide for British Land.”

 

Date: Thursday, 12 January, 2009

 

Notes to Editors:

Chris Grigg graduated from Trinity Hall Cambridge with a first in economics. He joined Morgan Grenfell as a graduate in 1981 before moving to Goldman Sachs in 1985. He is married with five children and lives in Hertfordshire

British Land’s Nomination Committee comprises Chris Gibson-Smith, Robert Swannell, Senior Independent Director and Chairman of the Audit Committee, and Lord Turnbull, Chairman of the Remuneration Committee.

British Land is the UK’s second largest Real Estate Investment Trust with total assets, owned or under management, valued at £15.6 billion, as at 30 September, 2008.

 

The portfolio, focused on the Out of Town Retail and London Office sectors, has the longest leases (average 13 years) and occupancy rates (97 per cent) amongst the highest of the major UK REITs.

British Land contacts:

Laura De Vere  - Media                          020 7467 2920 / 07739 292920

Amanda Jones  - Investors                    020 7467 2946 / 07921 884017

Finsbury:

Faeth Birch / Ed Simpkins                     020 7251 3801

Date: 18 December 2008

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