Workspace poaches Capital & Regional boss as new CEO
By Benjamin Chiou
Date: Wednesday 08 May 2024
(Sharecast News) - Office provider Workspace has appointed Capital & Regional boss Lawrence Hutchings as its chief executive designate to replace its current CEO who announced his retirement in January.
Hutchings, who has been CEO at real estate group Capital & Regional since 2017, will replace Graham Clemett once his 12-month notice period is up, the companies announced on Wednesday.
"We are delighted to welcome Lawrence as our next CEO following a rigorous process," said Workspace chair Duncan Owen.
"With over 30 years' deep experience in the real estate industry and significant expertise in customer-centric operating businesses, Lawrence is ideally placed to take the role. The board and I look forward to working with Lawrence as Workspace continues to evolve its flexible offer in a growing part of the market."
Clemett, who announced his intention to step down in 2024 after 16 "hugely enjoyable years", said in a statement that Hutchings is a "great appointment to lead Workspace in the next stage of its growth".
Meanwhile, Capital & Regional said it would start a formal process to find a successor, but thanked Hutchings for the "significant contribution he has made to this company over the past seven years".
Workspace shares were down 0.9% at 536p by 0905 BST, while Capital & Regional fell 0.8% to 51.81p.
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