The Co-operative Group has announced that its director of commercial and investment property Geoff Player has decided to leave the business after 22 years.
Player oversaw the asset management and divestment of the Co-op’s property investment portfolio which at its peak was valued at £350m.
Announcing his intention to leave, Player said: “It has been an amazing organisation to work for with such a diverse asset base. But having worked-up and sold on much of the investment portfolio, now is a good time to move on”.
Earlier this year,Property Week revealed Co-op’s plans to defy market caution by opening 200 new convenience grocery stores in the next two years in its bid to become the UK’s leading convenience retailer.
Over the past few years, it has been actively disposing of larger supermarket stores, which don’t fit with its convenience strategy. Last year, it also agreed the sale of its smallest stores to CTN chain McColl’s for the same reason.
Ian Ellis, chief financial officer, said: “I’d like to recognise the great contribution Geoff has made to the Co-op over his 22 years of service and wish him well for the future”.
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