Property giant Intu promotes finance boss to become new chief executive
Shopping centre-owner Intu Properties has promoted its finance boss to run the company, it announced today.
Intu confirmed that Matthew Roberts was taking over as chief executive with effect from 29 April.
Roberts has been chief financial officer at Intu since 2010 and was also previously chief financial officer at gambling firm Gala Coral and a finance director at Debenhams and also held senior roles at Topshop and the Burton Group.
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He replaced outgoing chief executive David Fischel, who announced in July that he would step down once a successor was found.
Fischel announced his departure after a failed £3.4bn takeover bid by rival Hammerson last year.
A second takeover bid from a consortium led by billionaire shareholder John Whittaker collapsed in November after the group abandoned its offer.
Fischel has been with Intu since 1985 and had been chief executive since 2001.
John Strachan, chairman of Intu, said: "David's substantial contribution to Intu's affairs over many years has been outstanding and he will be greatly missed by the Board and all of Intu's staff.
"I would like to extend my personal gratitude to David for continuing to steer the Group for a longer period than was originally intended until we had completed our succession process. David will leave Intu with our very best wishes.
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“Matthew has been an exceptional CFO at Intu. This, combined with his extensive and relevant experience, including his proven expertise in leading strategic transformation projects, means he is absolutely the right person to lead this business going forward."
Intu has kicked off its search for a new chief financial officer.