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Hammerson boss to step down Thursday, 9th August 2012
The Bullring Shopping Centre, Birmingham. Photo credit: Hammerson
Lawrence Hutchings, managing director of UK retail and member of the Group Executive Commitee at Hammerson has announced he will step down from his position at the end of September.
Hutchings, who joined Hammerson from Henderson Global Investors in 2008, will leave the business to spend time in Australia, due to family reasons.
The three operational divisions of Hammerson’s UK retail business will report directly to chief executive David Atkins. Martin Plocica will become director of UK shopping centres, Andrew Berger-North will remain director of retail parks and Simon Travis will continue to be responsible for Hammerson’s investment in Value Retail.
David Atkins, chief executive of the Brent Cross and Bullring owner, said: "In his four years at Hammerson, Lawrence has made a major contribution to the way we manage our retail assets and developments. I understand his reasons for leaving and naturally I'm sorry to see him go. I thank him for all he has done for us and I wish him well for the future."
The news comes just a few weeks after Hammerson was again linked to a possible buy-out by an unnamed Middle Eastern sovereign wealth fund. Australian property group Westfield has also been linked in the past as a possible buyer for the UK company.