The Crown Estate’s chief executive Alison Nimmo has announced she will step down from her role at the organisation.
Ms Nimmo decided not to seek a third term as CEO for the company, which oversees the monarchy’s land holdings.
She will step down following an eight-year tenure at the end of December 2019.
The Crown Estate, which has a £14.1bn property portfolio, contributed £329.4m to the Treasury for the year to March 2018 – a year-on-year increase of 4 per cent.
It carried out nearly £800m-worth of sales purchases and capital activity for the year and continued to expand its offshore wind segment.
Ms Nimmo, who will remain in post for another 18 months, said it was the right time for a change of leadership.
“We have now embarked on the next phase of our transformation to a business focused more on customer and strategic services, leveraging our scale and deep expertise”, she said.
“This transformation will need a CEO with a long term commitment and so next year is the right time for me to ‘pass the baton’ to a new leader.
“I’m not going anywhere for the next 18 months and I look forward to another very busy and exciting year, after which I hope to continue to pursue my passion for sustainable cities; leading great teams; and working with purpose driven businesses.”