Sir Bob Lane OBE is to become the new chair of the London Thames Gateway Development Corporation (LTGDC).

Housing Minister Margaret Beckett thanked the outgoing chair, Lorraine Baldry as she welcomed Lane to the role.

‘The role of the London Thames Gateway Development Corporation will be crucial for meeting the challenges posed to regeneration in the current economic climate. Bob Lane has the drive, skills and experience to see it through these difficult times and ramp up the pace of delivery to create a lasting legacy in advance of 2012,’ she said.

‘I also wish to thank the outgoing Chair, Lorraine Baldry, for her sterling work over the last four years. She can take pride in having helped build the Development Corporation and having left it in such a strong position for the challenges that lie ahead.’

Sir Bob Lane said: ‘I am grateful for the opportunity to serve as the new Chair of the Development Corporation. It is recognised that the Development Corporation is entering into a new phase of its life with an increased focus on delivery. I look forward to working with the business sector, the community and other stakeholders to deliver a real change for the people of East London in this changing environment.'

The LTGDC was established in 2004 and is charged by Government with helping to secure 40,000 more homes and 28,000 new jobs in east London by 2016.