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Land Securities Group PLC on Friday said Chief Operating Officer Colette O'Shea will step down from the role and leave the company as the business moves into its ‘next phase of its growth strategy’.
The London-based property developer and investor said O'Shea has supported Chief Executive Officer Mark Allen to develop and implement his growth strategy since 2020, but as it enters its next stage, there will be an increased emphasis on operational autonomy within business units.
This means that the role of COO is no longer critical to its operations, the company noted.
O'Shea will step down from the COO role on March 31 next year after a ‘transitional period’.
CEO Mark Allan said: ‘Landsec has been incredibly fortunate to have someone of Colette's skills, focus and drive at its heart for such a period of time. Over her time with us, few people have done more to reshape our business, and with it, the city of London.’
O'Shea joined Landsec in 2003 as head of Development, before being appointed its managing director in April 2014. She became chief operating officer in December 2020.
Shares were up 0.2% at 629.40 pence each on Friday morning in London.
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