Former Marks & Spencer chairman Paul Myners is to succeed Peter Birch as chairman of Land Securities

Myners has been appointed to the LandSecs board as a non-executive director and chairman designate, and will take over as chairman when Birch retires in January 2007.

Birch has been chairman of the company for eight and a half years. Myners was chosen to succeed him by a special nominations committee of non-executive directors.

The committee said: ‘Peter has been instrumental in driving change across the Land Securities group.

‘As a result of his determination, the group introduced a new strategy and brought in new people, which has resulted in sustained value creation for shareholders and a doubling of the share price during his tenure.’