Property firm Hammerson has announced today that Lawrence Hutchings, Managing Director of UK Retail at the company, is to stand down from his post in September, just months after it announced that it is shifting its focus exclusively to the retail sector.
Citing family reasons, the company said that Hutchings will take a sabbatical to spend time in his native Australia and outlined contingency plans for its senior team.
Following Hutchings departure at the end of next month, the three operational divisions of its UK retail business will report directly to CEO David Atkins while Andrew Berger-North will maintain his role as Retail Parks Director and Simon Travis will continue to manage the company’s Value Retail investment.
In February, Hammerson announced its intention to focus solely on the retail sector and has worked at developing new senior level roles to ensure that its real estate strategy is re-balanced accordingly.
Atkins thanked Hutchings for his hard work during his time at the company, saying: “In his four years at Hammerson, Lawrence has made a major contribution to the way we manage our retail assets and developments.
“I understand his reasons for leaving and naturally I’m sorry to see him go. I thank him for all he has done for us and I wish him well for the future.”