Land Secs director walks out on firm

BRITAIN’S largest property firm Land Securities yesterday said that its managing director Mike Hussey will leave the firm at the end of this month after rumours of boardroom tensions.
 

The firm last year abandoned a plan to split into three companies, one specialising in London property, one in shops and the other in outsourcing. 
 

Hussey, who manages the group’s £5.1bn London portfolio, had been groomed to take over as head of the demerged London retail estate unit. 
 

His exit follows the appointment of chairman Alison Carnwath in November. She has given chief executive Francis Salway  a six-month deadline to come up with a turnaround for the ailing firm.