Intu promotes current CFO Matthew Roberts to CEO role

Intu, owner and manager of shopping centres in the UK, has appointed Matthew Roberts as Chief Executive with effect from April 29, 2019. Roberts, the company said, will succeed David Fischel, who will be standing down from the board and leaving Intu on April 26, 2019.

Commenting on Roberts’ appointment to CEO, John Strachan, Chairman of Intu, said in a statement: “David’s substantial contribution to Intu’s affairs over many years has been outstanding and he will be greatly missed by the board and all of Intu’s staff. Matthew has been an exceptional CFO at Intu. This, combined with his extensive and relevant experience, including his proven expertise in leading strategic transformation projects, means he is absolutely the right person to lead this business going forward.”

The company added that having been chief financial officer of Intu since May 2010, Roberts has excellent real estate and retail experience and detailed knowledge of Intu’s affairs and therefore, he is well placed to drive intu’s winning destinations strategy which includes adapting fast to the changing retail environment, delivering strong underlying individual centre performance and making smart use of capital, including plans to reduce Intu’s debt to assets ratio to below 50 percent through disposals, part-disposals and introducing partners to assets.

Prior to joining Intu, the company further said, Roberts was CFO of Gala Coral from 2004 to 2008, leading the acquisition of Coral which resulted in the business becoming the UK’s largest private equity owned company at the time. Prior to this, he was finance director of Debenhams, managing the company’s successful IPO in 1998 and sale in 2003, and also held senior roles at Top Shop/Top Man and The Burton Group.