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New River Reit : Family retains top job

New River is one of Britain’s biggest shopping centre owners

New River Reit has promoted Allan Lockhart to the top job after his father, David, stepped down as chief executive to become executive deputy chairman.

The FTSE 250 company is among Britain’s largest owners and managers of convenience stores and discount shopping centres.  It specifically targets shoppers who visit often to buy household essentials.


The company said that David Lockhart, its co-founder and former Chief Executive, had come back to New River after a period of ill health since August but would become deputy chairman.

His son, Allan, helped to found the company.  He has been property director at New River since its launch and flotation in 2009.  He will take over.

The company defended the decision, stating that 14 external candidates were considered alongside two internal candidates.  They were all “put through a thorough benchmarking and assessment exercise” before a recommendation went to the board.

This post first appeared on BEULALANDBLOG, please read the originial post: here

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New River Reit : Family retains top job


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