Developer St Modwen has revealed the new man becoming chairman after Anthony Glossop revealed he is stepping down after nearly 40 years of service.
Regeneration specialist St Modwen (SMP) has announced Bill Shannon will become a non-executive director and chairman designate with effect from November 1.
Mr Shannon is currently chairman at AEGON UK, which he joined in 1997 as a non-executive director, before becoming chairman in 2005. He also had a 30-year career at Whitbread, where he was a divisional managing director.
It is intended that following the conclusion of the company’s AGM in March 2011, he will succeed Anthony Glossop, the current chairman.
Mr Glossop said: “I am delighted to welcome Bill to the board and as my successor, he brings with him extensive management experience across a range of publicly listed and private companies. His long and successful career at Whitbread, where he managed a vast property portfolio and his time at Barratt Developments, provide him with an excellent grounding as chairman of St Modwen. I am confident that he will be a huge asset to the company.”
Mr Shannon said: “St Modwen is hugely respected in the property industry and I am delighted to be invited to become chairman of the doard. I look forward to the challenges ahead and working with the Board to guide the company’s future success.”
The appointment followed an extensive search process led by Ian Menzies-Gow, Senior Independent Director, and supported by The Zygos Partnership.