REG - British Land Co PLC - Appointment of CEO

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RNS Number : 5483G  British Land Co PLC  02 June 2026

 

British Land appoints Joanne McNamara as Chief Executive Officer

2 June 2026

The Board of The British Land Company PLC ("British Land", the "Company") is
delighted to announce that Joanne McNamara has been appointed Chief Executive
Officer ("CEO").

Joanne is currently Executive Vice President, Europe at Oxford Properties
("Oxford"), a leading global real estate investor, developer, and manager
wholly owned by the Ontario Municipal Employees Retirement System ("OMERS"),
one of Canada's largest pension funds.

Joanne has over twenty years' experience in the real estate sector. She joined
Oxford in 2010 as one of its first team members in London, and over the past
sixteen years has overseen several of its most significant investment and
development transactions. She was also instrumental in building Oxford's
successful 70-plus European team, creating a portfolio of office, retail,
logistics and residential assets with AUM of approximately £8 billion. Prior
to joining Oxford, Joanne worked at Hammerson and DTZ.

She is a member of Oxford's Global Executive and Investment Committees and
sits on the OMERS portfolio management committee. Until 2025, she was a
Non-Executive Director of ESR Group, the largest APAC-focused quoted real
estate logistics platform.

She has a maximum notice period of 6 months and is expected to join the
business by the end of November at the latest.

William Rucker, Chairman of British Land, said: "I am delighted that Joanne is
joining British Land from Oxford Properties, a business we respect and know
well as a joint venture partner on the highly successful Leadenhall Building
development.

"Joanne is one of Europe's most respected real estate professionals. With her
deep expertise of real estate, valuable experience in the world of private
capital and a strong reputation for decisive leadership, she is exceptionally
well placed to drive the business forward. On behalf of the Board, I look
forward to welcoming her to the team."

Joanne McNamara, incoming CEO, said:

"British Land is a business that I have always admired, with an impressive
track record of delivering and managing best in class places across the UK and
an expert team at its helm.

"I am very much looking forward to working with the Board, Executive Committee
and all of my new colleagues as we work together to build on what is already a
fantastic platform for growth."

-ENDS-

Investors:

Sean Pearcey-Stone, British Land
 
0207 486 4466

Media:

Charlotte Whitley, British Land
 
07887 802 535

Joanne's terms on appointment:

Joanne will be appointed with a base salary of £800,000 per annum.  All
elements of her remuneration will be consistent with the terms of the
Directors' Remuneration Policy approved by shareholders at the AGM in July
2025.  Further details will be set out in the 2027 Directors' Remuneration
Report.

Joanne will receive a payment of up to £900,000 in 2027 for the lost
opportunity of receiving a 2026 annual bonus from her current employer, and
replacement long-term incentive awards as detailed below, each in order to
facilitate recruitment and in line with the Directors' Remuneration Policy.
None of the replacement awards will vest earlier than the awards that are
being forfeited and their values reflect the amounts being forfeited, which in
all cases are cash.

Replacement share awards will take the form of a restricted share award over
British Land shares subject to service conditions and malus and clawback
provisions with a value of £1,000,000, which will vest in 2027; and two
awards over British Land shares each with a value at the time of grant of
£2,000,000, which will be subject to service conditions, performance
conditions and malus and clawback provisions equivalent to those which apply
to the 2025 LTIP already granted to the CFO and the 2026 LTIP award to be
granted shortly. These share awards will align her interests to those of
shareholders and the incentivisation of senior management team and help to
build her shareholding.

In addition, Joanne will receive a 2026 award under the Company's Long Term
Incentive Plan following joining of up to 250% of salary (dependent on the
timing of commencement of her employment) to align her incentive awards with
those of other executives.

Notes to Editors

About British Land

British Land is a UK commercial property company focused on real estate
sectors with the strongest operational fundamentals: London campuses and
retail parks. We own or manage a portfolio valued at £15.8bn (British Land
share: £10.1bn) as at 31 March 2026.

Our purpose is to create and manage Places People Prefer - outstanding places
that deliver positive outcomes for all our stakeholders on a long term,
sustainable basis. We do this by leveraging our best in class platform and
proven expertise in development, repositioning and active asset management.

Read more about us at www.britishland.com (http://www.britishland.com) .

 

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