David Lockhart steps down in favour of his son and NRR co-founder
Following David Lockhart’s leave of absence due to ill health, NewRiver has announced his decision to step down as chief executive officer but maintain continued involvement at NewRiver as executive deputy chairman.
At the same time the board has appointed Allan Lockhart as chief executive officer, effective from 1 May 2018. Chief financial officer Mark Davies, who shared executive responsiblites with Allan Lockhart in David Lockhart’s absence, will take on an enhanced operational role.
Allan Lockhart has over 25 years’ experience in the UK retail real estate market, co-founded NewRiver with David in 2009 and as property director has been responsible for the company’s acquisition and active asset management activity. More recently he has also overseen the company’s development portfolio, and played an active role in NewRiver’s investor relations programme.
Allan Lockhart commented: “Over the last nine years NewRiver REIT has established a leading position in the UK retail & leisure sector, and I look forward to leading the Company through the next exciting phase of its growth and development.”