Land Securities announces directorate change (UK)

Land Securities announces that Andrew Macfarlane, Group Finance Director, has resigned to take up the role of Chief Financial Officer at Rentokil Initial plc, the international business services group. He will be leaving the Group on 5 August 2005.

Commenting on his decision, Andrew Macfarlane said, "I have very much enjoyed the past four years at Land Securities which have been especially rewarding as we implemented change and delivered a winning strategy. I have, however, missed the challenge of working for an international business. I wish my colleagues at Land Securities continued success and look forward to the new opportunities that my role at Rentokil Initial will bring."

Land Securities' Chairman, Peter Birch, added, "We are grateful to Andrew for his contribution to the business and wish him success at Rentokil Initial. Over the past four years, we have introduced change across the entire organisation, the benefits of which have been widely recognised. In particular we have received notable accolades for the calibre of our financial reporting and for the debt restructuring delivered by our group finance and tax and treasury teams, which Andrew has led."

Land Securities has begun the process of identifying a new Group Finance Director and will make a further announcement in due course.

Source: Land Securities

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