Unite Group brings forward new CEO's start date

Student accommodation developer and manager Unite Group said the start date for new chief executive officer Richard Smith has been brought forward by a month to 1 June.

In April, Unite announced that it was promoting Smith from managing director of operations, replacing Mark Allan who is leaving the business after 10 years as CEO to take up the same role at St Modwen Properties.

At the time, Unite said Smith would take on his new role on 1 July, but the company said on Wednesday that the start date has been brought forward as the handover period was progressing ahead of schedule.

As previously announced, Mark Allan will continue to remain available in an advisory capacity, if required, until 31 October, to support Smith and ensure a smooth transition, Unite said.

At 1550 BST, shares were down 0.1% to 656.50p.