© Reuters. British Land’s chairman John Gildersleeve to retire

(Reuters) – British Land Company Plc said on Monday that John Gildersleeve would retire as chairman at the real estate firm’s annual general meeting this year, after six years in the role.

Gildersleeve will be replaced by Tim Score, an independent non-executive director of British Land and chair of the audit committee since 2014, the blue chip firm said.

Score was previously the finance head of British chipmaker ARM Holdings (LON:), a unit of SoftBank Group Corp, and is currently a non-executive director at Pearson Plc and HM Treasury.

John Gildersleeve will retire as a non-executive director and step down as chairman of the company at the conclusion of this year’s annual meet, which is scheduled to be held on July 19, British Land said in a statement.

Gildersleeve joined the British Land board as a non-executive director in 2008 and has served as chairman since January 2013.

In November, British Land reported a 2.9 percent drop in net asset value for the first half of the year. The company is scheduled to report its full-year results on May 15.

Real estate firms, which get a large chunk of their business from retailers, have been dealt a blow as many retail firms are shutting down stores to cut costs and focus on the online space.

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