British Land CEO Simon Carter to step down

UK commercial property company British Land has confirmed that chief executive officer Simon Carter is stepping down from his role, after 18 years at the company.

Carter, who has a 12-month notice period, will be leaving British Land to become chief executive officer of P3 Logistics Parks, the GIC-owned investor, manager and developer of logistics properties in Europe.

In a statement, the board of British Land said it will “run a full process to appoint a successor” before it makes any further announcements.

Carter joined British Land in 2004 and worked in several roles across strategy, corporate finance, and treasury before leaving in 2015 to become chief financial officer of Quintain Estates and later Logicor. He returned to British Land as CFO in 2018 and was appointed CEO in 2020.

William Rucker, chairman of British Land, said: “On behalf of the board, I want to thank Simon for his significant contribution to British Land. During his 18 years here across two stints, he has achieved a huge amount, and as CEO, has positioned the business for future success with a very strong management team and an exceptional London office campus and retail park platform. We wish him all the best in his new role at P3.”

Commenting on his departure, Carter added: “British Land has been a huge part of my professional life, and it has been a privilege to work for such a fantastic business. I’d like to thank William, the board, and the executive committee for their unwavering support during my time as CEO, and all my colleagues for the outstanding execution of our strategy over the past five years.

“The contrarian calls we made post-pandemic have positioned British Land for long-term success. There is never a perfect time to move on, but I will be leaving the business with market-leading positions in London campuses and retail parks – both of which are benefiting from strong rental growth in supply-constrained markets. I’m immensely proud to have played a part in British Land’s story and wish the business nothing but success in the future.”