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Capital & Counties Properties Plc

Capital & Counties Properties PLC Managing Director & Chief Investment Officer to step down

Capital & Counties Properties PLC (LON: CAPC) announced today that Gary Yardley, Managing Director & Chief Investment Officer, will step down from the Board and leave the Company on 30 June 2019. The roles will not currently be directly replaced on the Board.

The Company’s Earls Court investments will be led by Mike Hood, Group Development Director (who has been appointed as Managing Director, Earls Court) as preparations advance for a possible demerger. Mike joined the Company in 2011, has operational responsibility for Earls Court, including the development management activities of the ventures with TfL, KFI and Network Rail, and has successfully delivered a number of significant projects including Lillie Square.

Gary Yardley, Managing Director & Chief Investment Officer, said:

“Capco is a special company with a remarkable investment portfolio and dedicated people. I am proud of the success we have achieved at Capco and in particular of the exciting and unique opportunity we have created at Earls Court, a project of significant vision and ambition. I wish Ian, my colleagues and the business every success for the future, as I take some time out to focus on my other interests and improving my health.”

Henry Staunton, Chairman, commented:

“Gary is an exceptionally talented real estate professional and has made an enormous contribution to creating one of the most important development opportunities in London. We are sorry to see him depart the Company and thank him for his extraordinary efforts over the past 12 years, wishing him good health and success in the years to come.”

Ian Hawksworth, Capital & Counties Properties PLC Chief Executive, added:

“Gary has shown commitment and enthusiasm to both the business and its people and I would like to extend my personal thanks to him for his significant contribution. We wish him well in his future plans, both personal and professional. Gary has developed a talented and experienced team at Earls Court and under Mike’s leadership they will ensure we remain focused on executing our strategy to maximise the potential of this unique London investment as we prepare for a separation of Covent Garden and Earls Court.”