Hammerson’s mixed-use Victoria Quarter in Leeds, UK. Picture: 123RF
Hammerson’s mixed-use Victoria Quarter in Leeds, UK. Picture: 123RF

UK and Europe shopping centre owner Hammerson has announced the resignation of its board chair David Tyler, a move that comes just weeks after CEO David Atkins said he would step down.

Robert Noel will succeed Tyler as non-executive chair by no later than the beginning of October.

It comes as the group battles with the fallout from Covid-19, having already been under pressure in recent years from Brexit uncertainty.

Noel is a former CEO of Land Securities Group, one of the UK’s largest property companies. He is also a trustee of the UK’s Natural History Museum.

Hammerson’s share has fallen more than three-quarters over the past three years, and with other UK-focused property counters it has been under pressure since Britain voted to leave the EU in 2016.

In May, Hammerson announced that CEO David Atkins would step down by the spring of 2021 at the latest, saying it was time for a new CEO, and a new chapter for the business.

Also in May, the group’s sale of nine retail parks to Orion European Real Estate for about R9bn fell through.

Hammerson also announced on Monday that local industry stalwart Des de Beer will join the board as a non-executive director with immediate effect.

De Beer, CEO of Resilient, is also non-executive director of Lighthouse Capital, which has a 15.31% stake in Hammerson.

gernetzkyk@businesslive.co.za

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