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Intu still seeking CEO replacement it confirms

Shopping centre owner Intu has confirmed it is still seeking a replacement for outgoing CEO David Fischel.

This is despite reports from the Sunday Times claiming that the owner of the Trafford Centre in Manchester and Intu Lakeside in Essex was favouring a move for former Travis Perkins chief operating officer David Buffin.

However it confirmed on Monday (1 April) as at the time of its annual results announcement on 20 February 2019, the search for a new CEO is still ongoing.

Fischel announced in July 2018 that he was to leave the company after 18 years of service. The news came at a time when the group reported a £507m pre-tax loss in the six months to June 2018, down from a £123m profit a year earlier, attributed “primarily to the property revaluation deficit”.

It is reported that Intu’s search for a chief executive is said to have been complicated by the lack of certainty over whether it will remain a public company.

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