British Land appoints CFO Carter to replace CEO Grigg

British Land has appointed Chief Financial Officer Simon Carter as its chief executive to replace Chris Grigg, who will step down after 11 years in the job.

The FTSE 100 company said Grigg had told the board he wanted to quit as CEO. He will step down on interim results day on 18 November and leave the board at the end of December.

Carter will replace Griggs on 18 November after more than two years as CFO. British Land said it made a thorough search for a new boss before appointing Carter.

Chairman Tim Score said: "The board are confident that Simon is the right person to lead British Land forward. He is a proven, growth-orientated business leader with significant real estate experience and expertise across various asset classes. We look forward to working with Simon in his new role."

Carter will take over the owner of Sheffield's Meadowhall shopping centre and Broadgate in the City of London with the commercial property sector in turmoil caused by Covid-19. Retailers are closing stores as sales move online and questions hang over the viability of offices with many companies shifting to home working.