- Push-out Score determined
- After almost eight years in the position
- Praise and thanks for Noel
- Search for a successor
- Noel said 67 words
(exechange) — London, United Kingdom, July 11, 2019 — Rob Noel, chief executive of Landsec, leaves. As announced by Land Securities Group Plc in a news release on Thursday, July 11, 2019, Robert (Rob) Noel leaves his post as Chief Executive Officer at the largest commercial property development and investment company in the UK after almost eight years in the role.
The announcement of Rob Noel’s move comes 12 months after Cressida Hogg took over as Chairman of Land Securities Group Plc.
Robert Noel, Chief Executive, has informed the Board of his intention to retire from Landsec during 2020.
Landsec will undertake a search for a successor.
“The right time for me to move on”
Rob Noel’s departure from the CEO post is explained as follows. Noel said: “Next year I will have spent ten years at Landsec, eight as Chief Executive. With the business well positioned for the current market, a growing pipeline and a clear strategy for the future, it’s the right time for me to move on.”
Precise information regarding Rob Noel’s future plans was not immediately available.
Share price decline
The announcement follows a decline in Land Securities Group PLC’s share price of 41 percent since October 2015.
Chaired by Cressida Hogg
Land Securities Group PLC is chaired by Cressida Hogg.
Cressida Hogg joined the Board as a Non-executive Director in January 2014 and became Chairman on July 12, 2018.
In the position of CEO since 2012
Robert M. Noel has been the Chief Executive Officer of Land Securities Group plc since April 1, 2012.
A chartered surveyor and graduate of the University of Reading, his first major role in property was as director of the property services group Nelson Bakewell.
Later, he took on the role of Property Director at Great Portland Estates, before joining Landsec as Managing Director of the London Portfolio in 2010.
Noel became Chief Executive two years later.
In the past Noel has been a director of the New West End Company and Chairman of the Westminster Property Association.
Noel is currently a director of the European Public Real Estate Association and also the President of the British Property Federation.
In life outside Landsec, Noel is also a trustee of the Natural History Museum.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Landsec and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 28.2019 ($).