LONDON (dpa-AFX) - Shaftesbury Plc (SHB.L) said its chairman John Manser has advised the Board of his intention to retire at the conclusion of the 2013 Annual General Meeting expected to be held on February 8, 2013. The company further announced that Jonathan Lane, presently the executive deputy chairman, will succeed Manser as non-executive chairman.
In Lane's 25 year tenure as chief executive, which ended in 2011, the Group's property portfolio has developed its renowned West End villages and the business has delivered consistent out-performance in returns to shareholders.
Besides, Shaftesbury noted that the roles of chairman and chief executive and, in particular, the separation of responsibilities are and will remain clearly defined and the chairman's role will continue to be non-executive.
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