Hammerson CEO announces retirement plan

Hammerson said on Wednesday that its CEO Rita-Rose Gagné has informed the board of her intention to step down and retire next year.

She’ll stay with the business for the next 12 months, “bringing continuity while a successor is identified”. The company also said this timeframe “will allow for a full handover and orderly transfer of her responsibilities” and that she and the leadership team “are committed to facilitating a smooth transition and to ensuring that the delivery of Hammerson’s growth strategy and operations continue at pace and without disruption”.

Gagné has been with the giant retail landlord — which owns key properties such as the Bullring, Cabot Circus and Dundrum Town centre — since late 2020. Hammerson said she’s “driven a substantial turnaround, transforming and strengthening Hammerson into the largest UK-listed, pureplay owner and manager of prime retail and leisure anchored city destinations. The company is now well positioned to continue to deliver growth and value creation”.

In fact, since she arrived, the company has sold a raft of non-core properties such as its retail parks, the Silverburn mall, Union Square, Victoria Leeds, Italie Deux in Paris, and its Bicester Village stake. But it has also taken full control of Westquay, and Brent Cross, invested in its core properties and reported a series of improving results.

Robert Noel, chair of Hammerson, said: “On behalf of the board and the Hammerson team I would like to thank Rita-Rose for her outstanding leadership and immense contribution to the business since November 2020.”

Meanwhile Gagné added: “We are successfully executing a clear growth strategy and have tremendous momentum for sustainable long-term value creation. With the business in great shape, a strong team, and significant opportunities ahead, it is an exciting time for Hammerson and the right time for me to pass on the baton.”