Land Securities London managing director, Mike Hussey, is leaving the company.
The UK’s largest property investment and development group today told the stock exchange Mr Hussey would leave his role “by mutual agreement” at the end of the month.
Chair Alison Carnwath said Mr Hussey, who has been with the company for the past seven years, including five in the position of London MD, had made an “outstanding contribution” to the group.
She said: “Whilst the company was preparing for a demerger, Mike was set to become the chief executive of a major quoted property company.
“Demerger is no longer a strategic option for the company and following that decision it was agreed by the board and Mike that his future lay best outside the company. All of the board thanks him and wishes him every success in his future career.”
The group’s London division will now report directly to chief executive Francis Salway.