Mickola Wilson stepped down as chief executive officer of fund manager Teesland this morning.

The news comes as shares in the company were delisted from the London Stock Exchange following its takeover by Australian fund management group Valad.

It had been thought that Wilson would remain with the company and report to Valad European chief executive Peter Hurley. She will still work with Valad as a consultant for the listed Teesland Advantage Property Trust.

Full rebranding

Former Teesland Chairman and Valad Director, Kevin McCabe said: ‘Mickola has made a considerable contribution to the success of the Teesland business since joining as CEO in 2002. She has led a period of substantial growth, and the expansion of an enviable pan-European network.’

Hurley said: ‘We thank Mickola for her significant efforts in making the integration of Teesland into Valad a smooth process.’

From 4 February Valad will be the sole shareholder in Teesland, and will proceed with a full re-branding of Teesland. ‘We look forward to the benefits that an increased awareness of the Valad brand and philosophy will bring.’ Hurley said.