Land Securities has announced the appointment of Alison Carnwath as chairman of the group. Carnwath, (55), is chairman of M F Global and has been a non-executive director of Land Securities since September 2004. Carnwath's appointment follows the resignation of Paul Myners from the position of chairman on 3 October to become a minister in the British government. Carnwath said: 'Land Securities has a talented management team who is working hard to address the effects on our business of these unprecedented challenges in the market. I look forward to leading the Board through these turbulent times and shaping the business for the future.'
Land Securities has announced the appointment of Alison Carnwath as chairman of the group. Carnwath, (55), is chairman of M F Global and has been a non-executive director of Land Securities since September 2004. Carnwath's appointment follows the resignation of Paul Myners from the position of chairman on 3 October to become a minister in the British government. Carnwath said: 'Land Securities has a talented management team who is working hard to address the effects on our business of these unprecedented challenges in the market. I look forward to leading the Board through these turbulent times and shaping the business for the future.'
Land Securities, the largest real estate investment trust (REIT) in the UK, on Wednesday announced a net loss for the six months to end-September 2008 of £1.73 bn (EUR 2.1 bn) compared to a profit of £367 mln (EUR 446 mln) in the same period the year before. The company attributed the hefty drop to a decrease of 12.7%, (£1.72 bn) in the valuation of its investment portfolio.
