Intu Properties plc Planned Retirement of Chief Operating Officer (1788Y)

TIDMINTU

RNS Number : 1788Y

Intu Properties plc

07 September 2015

INTU PROPERTIES PLC - CHIEF OPERATING OFFICER

Intu Properties plc ("Intu") announces that Mike Butterworth, Chief Operating Officer, has indicated his intention to retire on 31 December 2015.

Mike joined Intu following the intu Trafford Centre transaction at the end of 2010 and leaves a highly experienced and capable asset management team in place, including four Regional Directors who were appointed last year. The process of determining how best to replace Mike's role has commenced and further details will be announced in due course.

David Fischel, Chief Executive, commented: "Mike has made a substantial contribution to Intu over the past five years, during which the Group's total assets have increased from GBP5 billion to GBP9.5 billion, with a level of capital growth which has outperformed the IPD retail index each year. He has also overseen the build-up and increasing momentum of the Group's UK investment and development programme now amounting to GBP1.5 billion. Mike will leave the Group at the end of this year with our best wishes for a long and happy retirement."

Contact:

   Susan Marsden, Company Secretary   0207 887 7000 
 
 About Intu 
  Intu is the leading owner and manager of prime regional shopping 
  centres in the UK. 
  A FTSE 100 company, Intu owns and operates many of the UK's 
  biggest and most popular retail and leisure destinations, including 
  nine of the top 20, incorporating super-regional centres such 
  as intu Trafford Centre, intu Lakeside and intu Metrocentre, 
  together with a number of city centre locations from Watford 
  to Newcastle. 
  With 23 million sq. ft. of space hosting top UK and international 
  retailers from Apple to Zara, Intu centres attract some 400 
  million customer visits from over half of the UK's population 
  every year. 
  Intu has a UK investment pipeline of GBP1.5 billion over the 
  next ten years to add 2.6 million sq. ft. of new retail and 
  leisure space, of which 1.7 million sq. ft. is already consented. 
  Major projects due to be underway soon include the extension 
  and refurbishment at intu Watford and the leisure expansion 
  at intu Lakeside. 
  Intu also has a growing presence in the Spanish market, owning 
  two of Spain's top 10 centres, intu Asturias in Oviedo, and 
  Puerto Venecia in Zaragoza, a development site near Málaga 
  and development options on a further three sites in Valencia, 
  Palma and Vigo. 
  intu creates a compelling experience for its customers, both 
  on and offline, delivering on its brand promise to provide the 
  most digitally connected shopping centres, world-class service 
  and events with a difference. National initiatives include the 
  annual "Everyone's Invited" event which in 2014 increased footfall 
  that weekend by an average of 13 per cent. Our objective is 
  for customers to come more often and stay for longer, in turn 
  helping intu's retailers to flourish. 
  With some 115,000 people employed at Intu's centres in the UK, 
  representing some 4% of the UK's total retail workforce, Intu 
  is fully committed to supporting its local communities and the 
  wider environment and is proud to have received widespread recognition 
  for its Corporate Responsibility achievements, including the 
  coveted BitC CommunityMark. For further information see intugroup.co.uk. 
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