Capital & Regional appoints new chairman

Capital & Regional has appointed David Hunter as non-executive chairman. The current chairman at Custodian REIT is expected to take up his new role following Capital & Regional’s AGM on 20 May. However, he will join the board as a non-executive director on 9 March. He takes over from Hugh Scott-Barrett, who is stepping down after 12 years with the firm, nine of which were as chief executive. Hunter has been chairman of Custodian REIT for nearly six years. He is also a non-executive director of GCP Student Living and a senior advisor to real estate debt fund manager ICG-Longbow Earlier in his career, Hunter was a fund manager and was a managing director of Aberdeen Property Investors between 2001 and 2004 where he oversaw the business’s £6.5bn UK and international assets. Lawrence Hutchings, chief executive of Capital & Regional, said: “I would like to thank Hugh on a personal level for the support he has extended to me over the past three years and for his invaluable contribution to Capital & Regional over the past 12 years, during a time of significant change for the sector, both in his role as chief executive and more recently as chairman. “David’s extensive experience and commercial knowledge will be invaluable to Capital & Regional as we look to further enhance our portfolio and deliver on our community shopping centre strategy, on behalf of our shareholders.” Scott-Barrett added: “It has been a great privilege to have served as chief executive and subsequently chairman of Capital & Regional, during a time when the company has undergone a series of important and significant changes. “I now leave the company in a robust position with a strong management team in place, determined to continue navigating the evolving retail climate while delivering on a clear strategy with the resolute support of new shareholders in Growthpoint.” Hunter said: “These are clearly challenging times for the retail property sector, but with the support of an excellent management team, I hope to contribute effectively to the implementation of the clearly identified community shopping centre strategy on behalf of our shareholders.” To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette