Landsec appoints O'Shea and Parsons to Board

By Paul Norman - Tuesday, November 14, 2017 9:42

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Landsec has announced that Colette O'Shea (Managing Director, London Portfolio) and Scott Parsons (Managing Director, Retail Portfolio) will be appointed to the Board with effect from 1 January 2018.

Colette O'Shea joined Landsec in 2003 and was appointed Head of Development in 2008. She assumed her current position in 2014. Prior to joining Landsec, she was Head of Estates at The Mercers' Company.

O'Shea has been responsible for the delivery of Landsec's recent 3m sq ft speculative development programme in London as well as Landsec's Community Employment Programme which has secured employment for more than 1000 disadvantaged people since its launch in 2011. She is a member of the Mayor of London's Local Enterprise Partnership and formerly a non-executive director of the Genesis Housing Association.

Scott Parsons re-joined Landsec in 2010 and was appointed to his role in 2013. Prior to re-joining Landsec, he held leadership positions at GE Capital, Brookfield Asset Management and Lloyds Banking Group. He has been responsible for overseeing Landsec's retail portfolio over the last four years under the themes of dominance, experience and convenience. He is a Trustee of LandAid.

The remuneration packages for both Colette O'Shea and Scott Parsons are consistent with the Company's remuneration policy as detailed in the 2017 Directors' Remuneration Report and approved by shareholders in 2015. Both receive a basic annual salary of £415,000.

For 2017/18, they have an annual bonus opportunity of up to 125% of salary, subject to performance conditions being met.

They also received grants in July under the Company's Long Term Incentive Plan and these awards will vest (subject to performance conditions being achieved) in 2020. With effect from 1 April 2018, their remuneration package will be determined by the Remuneration Committee in line with the 2018 Directors' remuneration policy to be approved by shareholders at next year's AGM.

Dame Alison Carnwarth, Chairman of Landsec, said; "The Board knows both Colette and Scott well. They are proven leaders, with deep market knowledge, who live our values. They will be good additions to the Board and demonstrate good internal development and bench strength in this business."

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