St. Modwen Properties PLC (LSE: SMP), the UK's leading regeneration specialist, announces the appointment of Mark Allan as Chief Executive with effect from 1st December 2016. Mark will join the Company on 1st November 2016 as Chief Executive Designate, ensuring time for a handover of responsibilities.
The appointment concludes a detailed search process following the announcement made on 2nd February 2016 that Bill Oliver, St. Modwen’s current Chief Executive, will retire on 30th November 2016.
Mark (43) joins St. Modwen from The Unite Group PLC, the UK’s leading operator of purpose built student accommodation, where he has been Chief Executive since September 2006. He joined Unite in 1999 from KPMG LLP and has held a number of finance and commercial roles in the business, including Chief Financial Officer from 2003 to 2006. Mark is a qualified Chartered Accountant and a member of the Royal Institution of Chartered Surveyors. He also serves as a Trustee Director on the non-executive board of Anchor Trust.
Commenting on the appointment, Bill Shannon, Chairman of St. Modwen, said: “Mark has an impressive track record and is highly regarded in the listed property sector. I am certain that under his leadership the Company will continue to build on its unrivalled regeneration expertise and proven ability to realise value from its extensive land bank. The timing of this appointment allows for a smooth handover process and we look forward to welcoming Mark to the Board.”
Mark Allan said: “St. Modwen has a well-earned reputation as the UK’s leading regeneration specialist and I am excited by the prospect of working with the Board, senior management team and staff to build on the Company’s strong foundations and to lead the business in the continued execution of its strategy.”
There is no further information that is required to be disclosed under paragraph 9.6.13R of the Listing Rules of the Financial Conduct Authority.