The British Land Company PLC announces that Steve Smith, an executive director of the Company, will be stepping down from the Board on March 31, 2013 and leave British Land on June 30, 2013.
Steve joined British Land in January 2010, as Chief Investment Officer with responsibility for the group's property and investment strategy. Since then the group has announced and made significant progress on a £1.2 billion (approx. 1.4 billion) Central London office development programme, invested £1.1 billion (approx. 1.3 billion) in acquisitions and disposed of £600 million (approx. 737 million) of mainly retail assets.
Chris Grigg, CEO of British Land said: "Steve joined British Land at an important time for the business. His property expertise has been invaluable to the business and I am grateful for his contribution and personal support over that time. He leaves with the Board's thanks and best wishes for the future."
Steve Smith commented, "British Land is in great shape and I believe that in the coming period the company will continue to build on its excellent performance record. My very best wishes to Chris and the team."
Source: British Land