5th Nov 2018 13:04
LONDON (Alliance News) - A&J Mucklow Group PLC on Monday said Managing Director Justin Parker will step down at the end of 2018 to pursue new challenges in the property industry.
The real estate investment trust said Executive Chairman Rupert Mucklow will replace Parker from the beginning of 2019.
A&J Mucklow intends to recruit a new chief executive officer, who will combine the duties of the managing director and the executive duties of the chairman. For the last 15 years, the company was jointly managed by Parker and Mucklow.
Following the appointment of a new chief executive, Mucklow will become a non-executive chairman.
"Justin and I have enjoyed working together for the last 15 years and are very proud of what we have achieved," said Rupert Mucklow.
"However, we are not immortal and we both recognise the need to restructure the board roles as part of the company's succession plan and to introduce new talent to the company. This will enable the business to flourish for many more years," added Mucklow.
A&J Mucklow shares were trading 0.8% lower on Monday at 524.00 pence each.
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