Battersea Power Station developer has confirmed the loss of its two top executives and announce a new development director
Battersea Power Station developer Parkview International has confirmed the loss of its two top executives and announce a new development director.
As revealed in Property Week last week (news P1 28.07.06) chief executive Michael Roberts has left the company and the Hwang family will assume direct management control.
President Victor Hwang, has become executive director, his son Leo Hwang will be vice president and his daughter Vicky Hwang is director of leasing.
Victor Hwang said: ‘This is a significant decision for the Hwang family and demonstrates our continued commitment to seeing the project through to completion.’
He added: ‘As the Power Station development enters a new phase, new skills and experience will be needed and there is no-one better qualified than John Anderson to over see construction through to successful completion.’
The departure of Roberts follows chief financial officer Michael Russell exit this month.
It is thought Roberts and Russell fell out last month with Hwang over the progress of the project.
The developer has now put the retail and leisure elements of the scheme indefinitely on hold owing to long-running problems over its future funding. Leisure and retail letting agents for the scheme, Davis Coffer Lyons and Donaldsons, respectively, were told to halt leasing plans.
A Parkview spokesman said: ‘Plans for financing the next phase are well advanced and in conjunction with this the development team are reviewing the Power Station leasing strategy including terms and relationships with agencies.’