Intu finance chief to replace CEO David Fischel
Matthew Roberts has been tasked with reversing the flagging fortunes of the UK mall owner
Intu Properties, which was formed when Donald Gordon’s UK real estate group Liberty International was split in 2010, has finally announced a replacement for its long-standing CEO David Fischel, who leaves the company after 18 years in the role. Matthew Roberts, its finance chief since 2010, will take over as CEO of the UK and Spanish mall owner at the end of April 2019. This comes after a prolonged search for a replacement for Fischel, who resigned at the end of July 2018.
Fischel had been expected to leave at the end of December, having been CEO since 2001 and worked at the group since 1985. He stayed on however as acting CEO while Intu looked for a replacement. Intu has faced serious challenges over the past few years, including its tenants having to compete with growing online retail with a number of them closing shop or entering administration. Uncertainty around how the UK will leave the EU has led to Intu’s UK malls be devalued. One analyst was surprised an internal ...
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