Picton Property Income Ltd on Friday said that Chair Lena Wilson is due to step down from her position on January 31, following her appointment as chair of FirstGroup PLC.
Picton Property is a London-based commercial property real estate investment trust, while FirstGroup is an Aberdeen-based transport company.
Picton Property said that it would start looking for a suitable successor, with the transition and appointment process being led by Mark Batten, the company’s senior independent director, acting as interim chair of the nomination committee.
On Wednesday, FirstGroup Acting Chair Peter Lynas said: ‘We are delighted that Lena will be joining us to chair our board, bringing substantial experience from both the public and private sector combined with a strong track-record as a non-executive director.’
‘I would like to thank Lena for her leadership, guidance, and valued contribution during her time with Picton. The board and team wish her every success in her new role,’ said Chief Executive Michael Morris.
Shares in Picton Property Income were flat at 74.50 pence each in London on Friday afternoon, while FirstGroup shares were down 0.1% at 139.00 pence.
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