Derwent names Mark Breuer as chairman-in-waiting
Derwent London has picked Mark Breuer as successor to its outgoing chairman, as the landlord looks to draw on his decades’ experience at JP Morgan to help it weather the pandemic.
Breuer will succeed John Burns as non-executive chairman after the company’s annual shareholder meeting, subject to a vote among investors. He will also be installed as a non-executive director on 1 February.
The former investment banker retired from a 20-year career at JP Morgan in London, where he was vice chairman of global M&A, as well as a member of the bank’s Global Strategic Advisory Council.
Derwent London has picked Mark Breuer as successor to its outgoing chairman, as the landlord looks to draw on his decades’ experience at JP Morgan to help it weather the pandemic.
Breuer will succeed John Burns as non-executive chairman after the company’s annual shareholder meeting, subject to a vote among investors. He will also be installed as a non-executive director on 1 February.
The former investment banker retired from a 20-year career at JP Morgan in London, where he was vice chairman of global M&A, as well as a member of the bank’s Global Strategic Advisory Council.
Breuer said the business had proven “highly resilient” through the pandemic. “I am honoured to have been selected as chairman designate of Derwent London, a company I have long admired. I look forward to working with Paul and the board at an important time for the company and all its stakeholders,” he said.
The news comes weeks after Derwent joined scores of landlords in announcing disappointing fourth-quarter rent collection figures, after renewed coronavirus restrictions hit tenants at the end of last year.
Derwent collected 83% of rent for the final quarter, a higher figure than competitors including Landsec, in part because a higher proportion of its tenants are office-based.
Chief executive Paul Williams said: “Mark brings a wealth of experience across many fronts and I am confident he will make a valuable contribution to the company.
He added: “I should also like to take this opportunity to thank John, our founder CEO and chairman in the last two years, for his exceptional contribution to Derwent London, its shareholders, employees and other stakeholders, as well as to me personally. We wish him a happy retirement.”
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