LONDON (ShareCast) - (Sharecast News) - Real estate investment trust Capital & Regional said on Monday that finance director Charles Staveley will step down from the board on 15 August and leave the company later in the year to pursue other business interests.
Stuart Wetherly - director of operational finance and reporting & company secretary - will assume the role of group FD on an interim basis until a permanent appointment is made. The group said Staveley will continue to have an active role during the handover period.

Chairman Hugh Scott-Barrett said: "I would like to take this opportunity to thank Charles for the more than 10 years he has dedicated to Capital & Regional and to wish him well in the future. He played an instrumental part in effectively navigating the company through some complex challenges following the global financial crisis and helped to establish Capital & Regional as what is now a successful REIT with a focused portfolio and a strong balance sheet."

Chief executive officer Lawrence Hutchings said: "Charles has been an invaluable support to me during my first year at Capital & Regional and he has played a key role in the formulation and implementation of our new community strategy as well as the ongoing streamlining of the business.

"I would therefore like to thank him personally for all his help, and on behalf of the board for his hard work and dedication over the past 10 years and to wish him every continued success."

At 1550 BST, the shares were up 3% to 49.75p.

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