Danny McCance 22 Aug 2019 10:51am

Hammerson gets new CFO and executive director

James Lenton has been appointed as the new CFO and executive director of real estate and investment trust company Hammerson

He will join the company in the role of executive director on 16 September and will replace Timon Drakesmith as CFO on 1 October.

Lenton, a chartered accountant, recently worked with finance and investment corporation AIG after joining in 2013 as deputy CFO for Europe, the Middle East and Africa. A year later in 2014 he became a member of the board and CFO of the AIG’s European Group.

Prior to AIG, Lenton was at Big Four firm EY where he was made partner in the Europe, Middle East, India and Africa financial services practice in 2006. He became responsible for developing a new global strategy for the insurance assurance practice in 2011 as global-coordinating partner for the practice.

Lenton also worked for fellow Big Four firm PwC, where he qualified as a chartered accountant in 2001.

In his new role Lenton will earn an annual salary of £430,000 and upon appointment at Hammerson will receive a prorated 2019 long-term investment plan.

David Tyler, chair of the board at Hammerson, welcomed Lenton, saying that throughout his career “he has demonstrated significant success in working with and managing complex organisations which are experiencing periods of substantial change”.

Tyler added that this track record and a “fresh perspective” would be beneficial to the performance of the company.

Drakesmith, another chartered accountant, is currently CFO and managing director of Premium Outlets – which accounts for 27% of Hammerson’s property portfolio. He has been with the company for eight years and will leave it in November after a brief handover period.

Simon Travis will take over control of Premium Outlets as group investment director and managing director and will report directly to Hammerson CEO David Atkins.