Property giant British Land has appointed banking veteran William Rucker as its new chair, replacing Tim Score.
As part of the move, the boardroom heavyweight will step down as chair of pub chain Marston’s, before stepping into his new position this summer.
In a statement this morning, Rucker, said:”I have long admired British Land as a company with a terrific heritage and am delighted to be taking on the role of chair.
“It is a fantastic business with a strong track record and a highly effective team at its helm. I look forward to working with the Board and the team as we take the business forward”.
Rucker, who was the chief of investment bank Lazard for years, is the former chair of Crest Nicholson and Quintain.
His predecessor, Tim Score has stepped down after a total of 10 years at the board, five of which he served as chair.
He said: I am very proud to have served as chair of British Land and am pleased to hand over to someone of William’s calibre and experience to steer the business through its next chapter.
“I am confident he will provide the board with strong and effective leadership and will be a great support to Simon and the executive team”.
It comes amid a challenging time for British Land, as the FTSE 250 firm has seen its shares slide by over 15 per cent in the last year due to weak demand in the commercial property sector.