Grosvenor Group, the privately-owned international property group, has announced key senior management changes which will take effect from 1 January 2017.
Peter Vernon, currently chief executive of Grosvenor Britain & Ireland, will take on the new role of group executive director, reporting to the group chief executive, Mark Preston. Vernon will join the group board and take responsibility for oversight of the group’s three regional operating companies - Grosvenor Britain & Ireland, Grosvenor Americas and Grosvenor Asia Pacific - and the group's research function.
Craig McWilliam, currently Grosvenor Britain & Ireland's executive director for the London Estate, will succeed Vernon as chief executive of Grosvenor Britain & Ireland. He will join the Grosvenor Group’s Executive Committee.
As a result of these changes, Grosvenor Britain & Ireland is promoting Will Bax, currently its Director for Place-making, to the operating company’s board as executive director, London Estate Investment and Development.
Mark Preston, group chief executive, said: 'It is a tribute to the strength of our management team that we are able to promote from within and provide continuity within our leadership team. Peter, Craig and Will have all been successful in their current roles, which makes their promotion to these new responsibilities in January 2017 both natural and sensible.
Peter Vernon, currently Grosvenor Britain & Ireland Chief Executive, said he would be 'delighted' to hand over the leadership of Grosvenor Britain & Ireland to McWilliam in January 2017. 'He has successfully led our London Estate business, continuing our programme of re-investment and regeneration of Mayfair and Belgravia. He also ran the Grosvenor Developments business including creating the opportunity to build a new urban neighbourhood in Bermondsey. Through both roles he has demonstrated the experience and leadership skills required for the role of Chief Executive. For myself, I am greatly looking forward to taking a broader international role in the Group.'
Earlier in the year it was announced that Preston will take over Jeremy Newsum’s responsibilities as executive trustee of the Grosvenor Estate when Newsum retires at the end of 2016. Prestion will remain as group chief executive of Grosvenor Group, the largest entity in the Grosvenor Estate.
