Rick Haythornthwaite has stepped down from the Land Securities board with immediate effect.

Land Securities told the Stock Exchange today Haythornthwaite made the decision after his nomination as designate chairman at Network Rail and ‘his recognition of the anticipated greater demands on his time that this role would involve’

Haythornthwaite is also chairman of Mastercard, the Southbank Centre, the Risk and Regulation Advisory Council and an advisor to Star Capital Partners.