Chief financial officer Simon Carter will take over as chief executive from Chris Grigg following delivery of the company's half-year results on 18th November 2020.
He will get a basic annual salary of £750,000 plus the other executive benefits that he is already on.
Simon Carter has been the CFO at British Land since returning to the company in May 2018 after three years away. He was previously chief financial officer of warehouse business Logicor. Prior to that, he was finance director of Quintain Estates & Development. Before that, he spent more than a decade with British Land in strategy and finance roles, and was a member of the executive committee from 2012 until 2015.
British Land chairman Tim Score paid tribute to the departing chief: "Under Chris's leadership British Land has consistently created outstanding places, best demonstrated by our mixed-use London campuses Broadgate, Paddington and Regents Place. We have delivered several iconic London buildings and we look ahead to the unique opportunity we have at Canada Water.”
He added: “Chris has shown consistent leadership to bring about notable cultural change and has made a lasting impression through his work to champion diversity, inclusion and opportunity in real estate. He will leave having established a high-quality team, with a broad range of skills, experiences and perspectives which is well placed to take British Land forward under Simon's leadership."
Chris Grigg said: "It has been a privilege to lead British Land over the last 11 years, but I am confident that now is the right time to hand over to Simon. I am immensely proud of what we have delivered over my time as CEO. We've significantly repositioned our portfolio towards our London mixed use business and, through our campuses, we have created three world-class neighbourhoods for London that not only resonate with our customers but truly benefit their local communities. Buildings such as the Leadenhall Building and Clarges delivered significant financial returns and will stand as London landmarks for years to come. I would like to place on record my thanks to the Board of British Land and all of my colleagues, old and new, for their support and wish them every success for the future."