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Investing.com -- Hammerson plc (LON:HMSO) shares traded lower on Wednesday following the announcement that chief executive Rita-Rose Gagné intends to step down and retire from the company in 2026.
Gagné, who joined Hammerson in November 2020, will remain in her role for the next 12 months to ensure a smooth transition.
This period will allow for the identification of a successor and a full handover of responsibilities.
The Board confirmed that a formal and thorough recruitment process will commence shortly, with updates to follow in due course.
Chair Robert Noel praised Gagné’s tenure, noting her "outstanding leadership" and the transformation she has overseen.
Under her leadership, Hammerson repositioned itself as the largest U.K.-listed, pure-play owner and manager of prime retail and leisure city destinations.
He added that the company is now well placed to deliver continued growth and value creation.
Gagné says it’s the "right time" to pass the baton, citing that the company is in great shape with strong momentum, suggesting confidence in the business’s current trajectory.