Quintain Estates & Development Plc (QED) founder Adrian Wyatt will step down as chief executive officer of the real estate development and asset management company he founded.
Max James, an executive director at the company, will replace Wyatt tomorrow, Quintain said in a statement today. Rebecca Worthington has been promoted to deputy chief executive officer from her current role as chief financial officer. She will keep her old responsibilities until replaced.
“After 20 years leading Quintain, the time is right for me to hand over the reins to the next generation to take the business forward,” Wyatt said in the statement.
Quintain today reported a 60 percent increase in pretax profit, excluding changes in asset values and one-time gains and losses, for the 12 months ended March 31. Quintain also reported a 7.6 percent drop in net asset value per share.
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