Intu Properties to appoint finance chief Matthew Roberts as new boss
Shopping centre owner Intu Properties plans to appoint its finance boss as its new chief executive during a challenging time for the retail sector.
Intu, which owns the Trafford Centre in Manchester, is expected to announce that current chief financial officer Matthew Roberts is its new chief executive as early as tomorrow, Sky News reported.
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Roberts’ appointment comes after a nine month search for a replacement for current chief executive David Fischel, who announced in July that he would step down once a successor was found.
Fischel announced his departure after a failed £3.4bn takeover bid by rival Hammerson last year.
A second takeover bid from a consortium led by billionaire shareholder John Whittaker collapsed in November after the group abandoned its offer.
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The property company announced a £1.4bn hit to its property valuation last year due to the challenging retail environment.
The firm swung to a £1.2bn loss in 2018, from a profit of £203m the previous year.