6th Jun 2005 10:00
Land Securities Group Plc06 June 2005 6 June 2005 Land Securities Group PLC ("Land Securities" / "the Group") Directorate Change Land Securities announces that Andrew Macfarlane, Group Finance Director, hasresigned 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 5August 2005. Commenting on his decision, Andrew Macfarlane said, "I have very much enjoyedthe past four years at Land Securities which have been especially rewarding aswe implemented change and delivered a winning strategy. I have, however, missedthe challenge of working for an international business. I wish my colleagues atLand Securities continued success and look forward to the new opportunities thatmy role at Rentokil Initial will bring." Land Securities' Chairman, Peter Birch, added, "We are grateful to Andrew forhis contribution to the business and wish him success at Rentokil Initial. Overthe past four years, we have introduced change across the entire organisation,the benefits of which have been widely recognised. In particular we havereceived notable accolades for the calibre of our financial reporting and forthe debt restructuring delivered by our group finance and tax and treasuryteams, which Andrew has led." Land Securities has begun the process of identifying a new Group FinanceDirector and will make a further announcement in due course. - end - For further information: Land Securities Francis Salway/Emma Denne 020 7413 9000 Financial Dynamics Stephanie Highett/Dido Laurimore 020 7831 3113 Note to Editors Land Securities is a FTSE100 company, quoted on the London Stock Exchange. Ithas been at the forefront of the UK's commercial property industry for over 60years. Today, the Group maintains its market leading position as the UK'slargest quoted property company by providing commercial accommodation andproperty services to a wide range of occupiers. The Group's objective is tocreate attractive, sustainable returns for its shareholders through a strategyof investing in commercial property in markets and activities where it hasexpertise and operational skills, where it can benefit from its risk managementskills and the active recycling of capital. Land Securities holds a market leading position in three areas of the UKcommercial property market: - Retail, - London offices and - Property outsourcing Its £9.4 billion combined investment portfolio includes over 10 million sq feetof office and retail space in Central London and 21 shopping centres and 26retail parks located across the UK. It has a substantial development programme with a number of development projectsincluding major retail-led urban regeneration schemes and Central Londonmixed-use developments. The Group is also master planning one of Europe'slargest regeneration schemes in Kent Thameside. The Group leads the market in property outsourcing where, through LandSecurities Trillium, it provides accommodation and property-related services tothe Department for Work and Pensions, the BBC, Norwich Union, Barclays Bank,DVLA and through a joint venture, Telereal, to BT. The Group is committed to environmental initiatives and community involvementrecognised by the Group's inclusion in the BiTC Corporate Responsibility Index,FTSE4Good Index and the Dow Jones Sustainability Index. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Land SecuritiesRentokil Initial