Workspace chairman to step down after nine years on the board

Real estate investment trust Workspace Group revealed on Tuesday that chairman Stephen Hubbard will step down after nine years on the board.

Workspace stated Hubbard, who will stand down from the role on 6 July, will be succeeded by non-executive director Duncan Owen, whose appointment was part of the company's long-term succession planning.

The FTSE 250-listed firm said Hubbard has over 30 years' experience in the real estate sector, serving as the CEO of both public and private companies - such as Schroders.

Chief executive Graham Clemett said: "Stephen has made a hugely important contribution to the growth of Workspace and our successful navigation of the challenges during the Covid-19 pandemic.

"I am pleased the board has identified an excellent successor in Duncan, and I look forward to working closely with him over the coming years as we continue to deliver on the company's exciting growth opportunities."

As of 0855 GMT, Workspace shares had ticked up 0.20% to 507.50p.

Reporting by Iain Gilbert at Sharecast.com