Hammerson chief executive David Atkins will step down after over 10 years at the helm of the UK retail property firm.
In a statement issued on Wednesday, Hammerson said that Atkins’ decision to resign has the agreement of the board. He will remain in position until spring 2021 at the latest, while the board conducts a search for his successor.
Atkins joined the company in 1998 and in 2002 he took responsibility for the UK retail parks portfolio and, in 2006, for the wider UK retail portfolio. He was appointed CEO in 2010. During his tenure, Hammerson has considerably re-positioned and redefined its portfolio as a destination retail specialist.
‘It has been a privilege to have led Hammerson for over ten years and I am proud of the many achievements and the incredible colleagues I have worked with,’ David Atkins said. ‘The current environment, exacerbated by the impact of Covid 19, is undoubtedly the most challenging we have faced as a business. I feel now is the right time to search for a new chief executive, a person who can not only lead the business as we emerge from this period, but also into its next chapter.’
Chairman David Tyler added: ‘On behalf of the board, I would like to thank David for his enormous commitment in leading Hammerson during the past decade. He has developed Hammerson significantly through the growth of our premium outlets business, the geographical diversification of our portfolio, our market leading sustainability framework and the establishment of our City Quarters strategy.’
Atkins’ resignations come after a difficult time for Hammerson, marked by the collapse of the sale of a £400 mln (€460 mln) UK retail park deal agreed in February with buyer, Orion Capital Managers.
With UK retail values hit by the coronavirus crisis, Orion’s European Real Estate Fund V earlier this month decided to lose a £21 mln deposit rather than closing the acquisition.
