The Crown Estate chief executive to step down
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Alison Nimmo, chief executive of The Crown Estate, the company that manages the Queen’s retail and commercial property interests, has confirmed that she will step down at the end of December 2019 after eight years in the role.
Nimmo, who was the first woman to be appointed as the chief executive of The Crown Estate company, has stated that she will not seek a third term in charge, and will step down next year, after completing her second four-year term.
The Crown Estate chairman Robin Budenberg said in a statement: “Two full terms as chief executive will mark an exceptional and dedicated eight years during which time Alison has built a talented team, transformed the business and delivered outstanding results.
“I respect Alison’s decision and appreciate her giving us early notice so that we have plenty of time to find a successor, enabling a smooth leadership transition. Alison will be in post for another 18 months, over what will be a busy and exciting time and is absolutely committed to delivering continued outperformance, with pace and ambition. So, for the time being it’s very much business as usual.”
On her time at The Crown Estate, Nimmo said: “I’ve loved my time at The Crown Estate and am proud to have built such a talented leadership team so that I know I will leave the business in very capable hands.
“But I’m not going anywhere for the next 18 months and I look forward to another very busy and exciting year, after which I hope to continue to pursue my passion for sustainable cities; leading great teams; and working with purpose driven businesses.”
Nimmo added: “We have now embarked on the next phase of our transformation to a business focused more on customer and strategic services, leveraging our scale and deep expertise. This transformation will need a CEO with a long term commitment and so next year is the right time for me to ‘pass the baton’ to a new leader.”
The news comes as The Crown Estate revealed that it had delivered 329.4 million pounds in income to the Treasury in the year to March 31, 2018.