Mall operator Hammerson CFO James Lenton to step down By Reuters

(Reuters) – Mall operator Hammerson said on Friday its Chief Financial Officer James Lenton intends to step down, in less than 15 months in the role, and at a time when the COVID-19 pandemic has ravaged the retail industry.

The London-based company, which is planning a secondary listing on Euronext Dublin, said it had begun a search for a new CFO. Lenton is expected to stay in the role till his successor joins.

Last September, mall and office owner British Land announced the departure of its long-term boss Chris Grigg.

Operators of shopping centres have struggled with low rent collections and a drop in value of their properties as virus-related restrictions kept people away from malls.

Hammerson’s rival, Intu, went into administration last year due to the pressure, while Hammerson has raised hundreds of millions of pounds to get through the global health crisis.

Lenton was appointed as the finance head of Hammerson, which owns Birmingham’s Bullring shopping centre, in October 2019.