Shares of British Land slipped 2.4% on Wednesday after the board confirmed chief executive Simon Carter will leave to become CEO of GIC‑owned P3 Logistics Parks. Carter, a veteran of the London landlord with 18 years of service across two spells, has led the firm for more than five years. He first joined in 2004, departed in 2015 for senior finance roles at Quintain and Logicor, then returned as CFO in 2018 before taking the top job.

Chairman William Rucker praised Carter’s “strong management team” and the “exceptional London office campus and retail park platform” he helped build. In his farewell note, Carter said post‑pandemic contrarian decisions positioned the company for long‑term growth, citing market‑leading London campuses and retail parks that enjoy tight supply and rising rents. The board announced a 12‑month notice period and will launch a formal search for a successor.

With a £15.2 billion portfolio valued at September 2025, the transition tests investor confidence in a sector still navigating office‑space recovery and logistics demand.