The Board of Hammerson announces that John Nelson will retire as Chairman of the company at its AGM on May 9, 2013. David Tyler will join the Board with immediate effect, and succeed John Nelson as Chairman immediately after the AGM.
David has had a successful career, much of it in finance and retailing. He is currently Chairman of Sainsbury's and a Director of Burberry. He recently retired as Chairman of Logica following its acquisition by CGI. Prior to embarking on a non-executive career in 2007, he was the Finance Director of GUS for ten years. Before that he was the Finance Director of Christie's and previously worked in the City. He began his career in financial and commercial management in Unilever where he qualified as an accountant. He has a degree in Economics from Cambridge University.
The selection of the new Chairman by the Board was conducted following a process led by Hammerson's senior independent director, Tony Watson. The Board was advised by Odgers Berndston.
John Nelson said: "After nine years at Hammerson, and having taken up the Chairmanship of Lloyd's of London, I informed the Board during the course of last year that I wished to retire at the next AGM. I am so pleased that David Tyler will be succeeding me; he is exactly the right candidate. Hammerson has a clear strategy with high-quality retail property, excellent built-in growth prospects, and one of the strongest management teams in the sector. I have thoroughly enjoyed my time at Hammerson and I wish the company well."
David Atkins, Hammerson Chief Executive, said: "I want to thank John Nelson for his outstanding contribution to the Board and company over a period that has seen significant change for our business. I'm delighted that David Tyler will succeed John as Chairman. He has considerable experience of both retail and finance, which will prove invaluable as we continue our evolution to the best operator of retail property in Europe."
David Tyler said: "I am delighted to be joining Hammerson. The Company offers both investors and retailers a clear proposition: a focused, well-managed property business in the retail sector. I look forward to playing my part in the company's future progress."