The resignation of the chief operating officer was announced this morning.

Collins has decided to step down from the board after four and a half years’ service following an internal staff restructuring which concluded his role of group chief operating officer was no longer required. He is expected to depart at the end of November.

Peter Birch, chairman, said: ‘We would like to thank Mark for his tremendous contribution to the group over the past four and a half years. This period has seen great organisational change for the company in which Mark’s management skills have proved invaluable. At the same time he has worked closely alongside his fellow executive directors in implementing a reorganisation of the business…. It has been the success of this reorganisation which has led to his departure. Mark is respected as much across the Group as in the wider property world, and we wish him well in the future.’

Collins added: ‘I have really enjoyed my time at Land Securities where I have had the privilege of working with an outstanding team. However, I feel that I have fulfilled my brief and therefore look forward to a new challenge.’

Collins’ key achievements include overseeing the first office and industrial property swap with Slough Estates and the acquisition of Tops Estates.