Hammerson boss David Atkins to step down after a decade
Hammerson chief executive David Atkins will step down after 10 years at the helm, the retail landlord said today.
The property giant, which owns Birmingham’s Bullring, said Atkins will remain in position until spring 2021 while it searches for his successor.
Atkins, who took the reins in 2009, said it had been a “privilege” to lead the company for more than a decade.
“The current environment, exacerbated by the impact of Covid-19, is undoubtedly the most challenging we have faced as a business,” he said.
“I feel now is the right time to search for a new chief executive, a person who can not only lead the business as we emerge from this period, but also into its next chapter.”
Hammerson and rivals such as Intu are battling a sharp downturn caused by the coronavirus crisis as forced closures and a collapse in footfall have left tenants unable to pay rent.
In the second quarter Hammerson said it received just 37 per cent of the rent it was owed, though some payments have been deferred.
The landlord suffered a further blow earlier this month when its £400m deal to sell seven shopping malls to private equity firm Orion collapsed.
It marked a major setback to the company’s efforts to withdraw from retail parks and instead focus on a portfolio of flagship assets.
In a statement today chairman David Tyler said Atkins had created a culture at Hammerson that would “live far beyond his time”.
“He has developed Hammerson significantly through the growth of our premium outlets business, the geographical diversification of our portfolio, our market leading sustainability framework and the establishment of our City Quarters strategy. I look forward to continuing to work closely with him until a successor is appointed.”