Capital & Regional loses chairman and non-exec

Published:  22 April, 2010

Long-standing chairman Tom Chandos to step down from Capital & Regional, manager of the Mall, Junction and X-Leisure funds.

Capital & Regional has announced that Tom Chandos will step down as chairman and from the board at the AGM on 28 June 2010. He joined the board in April 1993 and became chairman in September 2000.

Since then he has steered the company on a roller-coaster ride through the property boom, followed by the dramatic collapse in asset values and the departure of the company's founder Martin Barber.

Chandos said: “Following last year's successful refinancing of the company and the previous appointment of Hugh Scott Barrett as chief executive, this is the right time for me to hand over the chairmanship.

My sadness at leaving the company's board will be mitigated by knowing that my successor will inherit an exceptional management platform, a strengthened balance sheet and a number of first class partners, which together provide excellent prospects for the company."

Alan Coppin has also decided to step down as a non-executive director at the end of September of this year, when he will have completed six years on the board.

An announcement on Tom Chandos' successor and on the appointment of new non-executive directors will be made prior to the Annual General Meeting.