Home / Business and Economy / British Land CEO Carter Jumps to Warehouse Giant
British Land CEO Carter Jumps to Warehouse Giant
12 Jan
Summary
- Simon Carter resigns as CEO of British Land after five years.
- He will lead P3 Logistics Parks, a developer backed by GIC.
- British Land's rental income grew 9.2% in interim results.
Simon Carter is set to depart from his role as CEO of British Land after a five-year tenure leading the FTSE 100 real estate firm. He will transition to become the CEO of P3 Logistics Parks, a European logistics property developer and investor backed by Singapore's sovereign wealth fund, GIC.
Carter, who has been with British Land for 18 years, expressed pride in the company's market-leading positions in London campuses and retail parks, which are experiencing significant rental growth. He believes the strategic decisions made post-pandemic have positioned British Land for sustained success.
British Land recently announced a 9.2% rise in rental income, attributed to like-for-like net rental growth and acquisitions. Underlying profits increased by 8.4% to £155 million, despite higher finance costs associated with development investments. Carter will serve his 12-month notice period while British Land initiates the process to find his successor.
