British Land CEO to step down

(Sharecast News) - The chief executive of The British Land Company is leaving to head up a pan-European logistics firm after five years in the role, it was announced on Monday. Simon Carter, who has been at British Land for a total of 18 years, is to join P3 Logistics Parks as chief executive following a 12-month notice period.

P3 invests and develops warehouses across Europe and is owned by GIC, Singapore's sovereign wealth fund. Carter will be based in London, however.

Carter, 50, said: "British Land has been a huge part of my professional life, and it has been a privilege to work for such a fantastic business.

"The contrarian calls we made post-pandemic have positioned British Land for long-term success."

Chair William Rucker said Carter had achieved "a huge amount" during his time at British Land. "We wish him all the best in his new role at P3," he added.

Carter joined the commercial property specialist in 2004, working in various roles across strategy and corporate finance before leaving in 2015 to become chief financial officer of Quintain Estates & Development.

He re-joined the business as chief financial officer in 2018 before taking up the top role in 2020.

British Land, which specialises in London campuses, retail parks and urban logistics and was promoted to the FTSE 100 in December, said it will now start a "full process" to appoint his successor.

Its portfolio is currently valued at around £15.2bn.