Picton has named former Landsec chief executive Francis Salway as the company’s new chair.
Salway, who will join the board in a non-executive capacity as chair and chair of the nomination committee on 1 February 2025, succeeds Lena Wilson, who will step down from the board on 31 January 2025.
Salway is currently a non-executive director at Watkin Jones and Cadogan Group, which owns and manages the Cadogan Estate in Chelsea. He was a non-executive director of Next from 2010 to 2021, latterly as senior independent director, and he also previously served as chair of housing association Town & Country Housing. He served as chief executive of then Land Securities from 2004 to 2012.
Salway said, “I am delighted to be joining Picton as chair. The company has an impressive long term property performance track record and I look forward to working with the board and management team to build on this success.”
Wilson added: “I am proud to have been part of Picton’s story over the last four years and, as a colleague and a shareholder, wish the company every success for the future. I would like to congratulate Francis on his appointment; he is joining a dedicated and highly effective team and I am confident his experience and leadership will contribute greatly to this next chapter”.
Michael Morris, chief executive of Picton, said: “On behalf of the board, I would like to give our sincere thanks to Lena for her leadership, guidance and valued contribution. We are pleased to welcome Francis to the Picton team and look forward to working together as we seek to create value for shareholders. His extensive experience in the property sector and strategic vision will be invaluable as we seek to take advantage of opportunities arising from current market conditions.”
