4th Dec 2015 08:17
LONDON (Alliance News) - Residential property investor K&C REIT PLC on Friday said its chairman and chief executive will not seek re-election at the group's annual general meeting on December 30.
Nigel Payne, the chairman, and George Rolls, the chief executive, will step down to focus on other business interests, K&C Said.
Michael Davies, currently a non-executive director, has been appointed chairman-elect of the company and will take on the role after the AGM.
Tim James, currently property director and a co-founder of the company, will become managing director.
K&C REIT shares were untraded early Friday, having last traded at 8.70 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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