Hammerson Chairman to be succeeded by Sainsbury's head

John Nelson, the Chairman of FTSE 100 real estate investment trust Hammerson is to retire from the company this spring and will be succeeded by Sainsbury's Chairman David Tyler.

John Nelson, the Chairman of FTSE 100 real estate investment trust Hammerson is to retire from the company this spring and will be succeeded by Sainsbury's Chairman David Tyler.

Nelson, 64, has been working on the board of Hammerson since May 2004 and has previously held positions on the boards of other blue-chip companies including Kingfisher, BT Group, Cazenove Group, JPMorgan Cazenove, Woolwich plc and English National Opera. He was appointed as Chairman of Lloyd's of London in October 2011.

"After nine years at Hammerson, and having taken up the Chairmanship of Lloyd's of London, I informed the board during the course of last year that I wished to retire at the next AGM," Nelson said on Monday.

"I am so pleased that David Tyler will be succeeding me; he is exactly the right candidate. Hammerson has a clear strategy with high-quality retail property, excellent built-in growth prospects, and one of the strongest management teams in the sector. I have thoroughly enjoyed my time at Hammerson and I wish the company well."

Tyler has a vast career in finance and retailing and is currently working as Chairman of supermarket giant Sainsbury and a director of luxury brand Burberry.

"I am delighted to be joining Hammerson," Tyler said. "The company offers both investors and retailers a clear proposition: a focused, well-managed property business in the retail sector. I look forward to playing my part in the company's future progress."

Recommended

Three sustainable stocks that are doing well by doing good
Share tips

Three sustainable stocks that are doing well by doing good

Professional investor Peter Michaelis of the Liontrust Sustainable Investment Team picks three stocks to buy that are helping to create a cleaner, saf…
26 Jul 2021
Share tips of the week – 23 July
Share tips

Share tips of the week – 23 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Jul 2021
Will Zoom’s $15bn purchase help it expand?
Tech stocks

Will Zoom’s $15bn purchase help it expand?

The videoconferencing platform became a household name during the pandemic, but it now needs new sources of growth. Alex Rankine reports
23 Jul 2021
Philip Morris goes “beyond nicotine”
Stocks and shares

Philip Morris goes “beyond nicotine”

US tobacco giant Philip Morris International has agreed to pay £1bn for British inhaler specialist Vectura.
23 Jul 2021

Most Popular

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Why the UK's 2.5% inflation is a big deal
Inflation

Why the UK's 2.5% inflation is a big deal

After years of inflation being a financial-assets problem, it is now an “ordinary things” problem too, says Merryn Somerset Webb. But central banks st…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021