Real estate group Hammerson Plc has announced that its chief executive of five years, Rita-Rose Gagné, has decided to step down from her role in 2026.
Gagné, who was brought on in 2020 to spearhead a strategic transformation of the business, will stay with the business for the next 12 months.
In a statement on Wednesday, the CEO said it was "the right time for me to pass on the baton" with the business in "a great shape".
The company will now start a "formal and thorough recruitment process" for her successor.
Chair Robert Noel praised Gagné's "outstanding leadership and immense contribution" over the past five years.
"During this time, she has driven a substantial turnaround, transforming and strengthening Hammerson into the largest UK-listed, pure-play 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," he said in a statement.
Shares were down 0.4% at 281p in early deals on Wednesday.