Directorate Change

RNS Number : 8481W

Capital & Regional plc

06 August 2018

 

6 August 2018

CAPITAL & REGIONAL PLC ("Capital & Regional" or "the Company" or "the Group")

UK company number 01399411

LSE share code: CAL

ISIN: GB0001741544

LEI: 21380097W74N9OYF5Z25

Directorate change

Capital & Regional, the UK focused REIT with a portfolio of dominant in-town community shopping centres, announces that Charles Staveley, the Group's finance director, is to step down from the Board on 15 August 2018 and, following a transition period, leave the Company later in the year to pursue other business interests.

Stuart Wetherly, Director of Operational Finance and Reporting & Company Secretary, who has been in senior finance roles working closely alongside Charles since joining Capital & Regional in November 2012, will assume the role of Group Finance Director on an interim basis until a permanent appointment is made.  Charles will continue to have an active role during the handover to Stuart.

Hugh Scott-Barrett, Chairman at Capital & Regional, said: "I would like to take this opportunity to thank Charles for the more than 10 years he has dedicated to Capital & Regional and to wish him well in the future. He played an instrumental part in effectively navigating the Company through some complex challenges following the global financial crisis and helped to establish Capital & Regional as what is now a successful REIT with a focused portfolio and a strong balance sheet."

Charles Staveley said: "It has been a pleasure to work with a close team of talented and dedicated professionals and I wish them every success in taking the Company through its next phase of growth.  Having enjoyed a long career at Capital & Regional I believe the business is now well positioned for the future."

Lawrence Hutchings, CEO at Capital & Regional, said: "Charles has been an invaluable support to me during my first year at Capital & Regional and he has played a key role in the formulation and implementation of our new community strategy as well as the ongoing streamlining of the business.  I would therefore like to thank him personally for all his help, and on behalf of the Board for his hard work and dedication over the past 10 years and to wish him every continued success.

"I would also like to welcome Stuart to the senior leadership team in the interim finance director role as we look forward to delivering the next phase of our strategy."

- ENDS -

For further information:

Capital & Regional plc                  020 7932 8000

Lawrence Hutchings

Charles Staveley

FTI Consulting                               020 3727 1000

Richard Sunderland                        

Claire Turvey

Methuselah Tanyanyiwa

[e-mail]

About Capital & Regional Plc

Capital & Regional is a UK focused specialist property REIT with a strong track record of delivering significant value enhancing retail and leisure asset management opportunities across its c. £1 billion portfolio of in-town, dominant community shopping centres.

Capital & Regional owns seven shopping centres in Blackburn, Hemel Hempstead, Ilford, Luton, Maidstone, Walthamstow and Wood Green. It also has a 20% joint venture interest in the Kingfisher Centre in Redditch. Capital & Regional manages these assets through its in-house expert property and asset management platform.

For further information see www.capreg.com.

 

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