Finance
British Land CEO Carter set to leave to lead GIC-backed P3 Logistics
Published by Global Banking & Finance Review®
Posted on January 12, 2026
2 min readLast updated: January 20, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 12, 2026
2 min readLast updated: January 20, 2026
British Land CEO Simon Carter is set to join P3 Logistics, impacting British Land's performance and strategy.
Jan 12 (Reuters) - British Land CEO Simon Carter plans to step down this year to join European logistics developer P3 Logistics Parks, the real estate group said in a statement on Monday.
During Carter's tenure, British Land has expanded its retail park portfolio to offset valuation pressures on its commercial assets resulting from the COVID-19 pandemic.
British Land shares were down by more than 2% in early trading, among the bottom performers on the FTSE 100 blue chip index, after it announced the impending exit of Carter, who has been CEO since 2020 and held various other roles since 2004.
"The news comes as a negative surprise to us," JPMorgan said in a note, highlighting British Land's recent strong performance which it attributed partly to its clear strategy under Carter.
Carter briefly left British Land in 2015 and returned as chief financial officer in 2018 before becoming CEO in 2020.
After serving his 12-month notice period, Carter is set to succeed Frank Porschk as CEO of P3 Logistics Parks, which was bought by Singapore sovereign wealth fund GIC for $2.7 billion in 2016 from TPG Real Estate and Ivanhoe Cambridge.
It operates in 11 countries across Europe.
P3 Chair Tay Lim Hock said Carter had an "exemplary track record in strategic leadership", while GIC's European real estate head Tracy Stroh said P3 was "ideally positioned to further deliver sustainable growth" under him.
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Mrigank Dhaniwala and Subhranshu Sahu)
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled, ensuring accountability and transparency in a company's relationship with its stakeholders.
A logistics park is a designated area where logistics and supply chain activities are concentrated, providing facilities for warehousing, distribution, and transportation services.
A notice period is the amount of time an employee must give their employer before leaving a job, allowing for a transition period to find a replacement or make necessary adjustments.
Retail parks are commercial properties that house multiple retail outlets, typically located outside city centers, designed to attract shoppers with ample parking and easy access.
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