Hammerson appoints John Nelson as Chairman (UK)

Hammerson plc announces that Ronald Spinney will retire as Chairman on 30 September 2005 and will be succeeded by John Nelson.

Ronald Spinney joined the Board as Chief Executive of Hammerson in April 1993 and was appointed Chairman in October 1999.

John Nelson joined the Board as a non-executive director in May 2004. He was formerly Chairman of Credit Suisse First Boston (Europe) and Vice Chairman of Lazard Brothers, having started his career with Kleinwort Benson. He is Deputy Chairman of Kingfisher plc and a non-executive director of BT Group plc.

Hammerson also announces that Graham Pimlott will be standing down from the Board on 31 December 2005. He joined the Board as a non-executive director in September 1993 and was appointed Deputy Chairman in 2000, in which capacity he acts as senior independent director. An announcement regarding the appointment of a senior independent director to succeed Graham Pimlott will be made later in the year.

Commenting, Ronald Spinney said:
'In 2004, I indicated to the Board my intention to retire in Autumn 2005. A process to find my successor was initiated which considered both internal and external candidates. I am delighted at the choice of John Nelson, an existing non-executive director. He knows and understands Hammerson well. In addition, he has a depth of experience as a senior banker and from his non-executive directorships of other major companies, which will be of great value to Hammerson and its Board.
'I would also like to place on record my appreciation to Graham Pimlott for his wise counsel and significant contribution to Hammerson over many years.'

John Richards, Chief Executive, said:
'In Ron Spinney’s twelve years at Hammerson, first as Chief Executive and then as Chairman, the Company has been transformed and earned a reputation as one of Europe’s most respected property companies. Ron arrived at Hammerson at a difficult time and it was his drive and energy, more than anything else, that put it back on a growth track. On behalf of the Board, I would like to thank him for all he has done for Hammerson.'

From 1 October 2005 the Board will comprise:
John Nelson - Non-executive Chairman
John Richards - Chief Executive
Simon Melliss - Group Finance Director
John Bywater - Managing Director, UK
Peter Cole - Managing Director, Group Investment and Development
Gerard Devaux - Managing Director, Continental Europe
Graham Pimlott - Deputy Chairman and Senior Independent Director
John Barton - Non-Executive Director
John Clare - Non-Executive Director
David Edmonds - Non-Executive Director
John Hirst - Non-Executive Director

Source: Hammerson

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