The head of Land Securities’ London division is to leave after the UK’s biggest property company reported a record loss last month and amid rumours of boardroom tensions.
However, the company ditched its plan to split into three – retail, London and outsourcing – this year. Instead it repaired its balance sheet by raising £756m in a rights issue, trimming the dividend and selling its Trillium outsourcing unit for £750m.
Financial Times. The Times