Property developer British Land has today announced that chief executive Chris Grigg will step down after 11 years at the helm.
Simon Carter, who is currently the firm’s finance chief, will take over the top job, it added.
Carter returned to British Land in 2018 after spells as the finance chief at European warehouse business Logicor and Quintain Estates & Development.
Prior to that, Carter spent over a decade with British Land, holding a number of leadership roles. He was a member of the Executive Committee from 2012 until 2015.
He will take over after the company announces its interim results in November. A successor for his current role has yet to be found.
Chairman Tim Score thanked Grigg for his contribution to the firm, saying: “Under Chris’s leadership British Land has consistently created outstanding places, best demonstrated by our mixed-use London campuses Broadgate, Paddington and Regents Place.
“Chris has shown consistent leadership to bring about notable cultural change and has made a lasting impression through his work to champion diversity, inclusion and opportunity in Real Estate.
“He will leave having established a high-quality team, with a broad range of skills, experiences and perspectives which is well placed to take British Land forward under Simon’s leadership.”
Grigg said that he was proud of what he had achieved at the firm but was “confident” that now was the time to hand over the reins to Carter.
Carter’s basic salary will be £750,000 per year and his other benefits will remain unchanged in line with his current executive director contract.