Capital & Regional announced that Lawrence Hutchings has resigned from his role as Chief Executive and will leave the Company to pursue a new business opportunity. During his nearly seven years in the role, Mr. Hutchings has been instrumental in repositioning Capital & Regional's portfolio towards convenience and community focused shopping centres and has led the business through significant structural change in the retail market, as well as the disruption caused by the Covid-19 pandemic. He leaves the Company well-positioned following its acquisition of Gyle shopping centre, with Group like-for-like net rental income and valuations both up in the year to 30 December 2023.

The Board will now commence a formal process to find a successor and Mr. Hutchings will continue as Chief Executive during this process to ensure a smooth and orderly transition. Mr. Hutchings is subject to a 12 month notice period and the Company will provide a further update on the timing of his departure in due course.