Hammerson down as Spinney quits

Hammerson down as Spinney quits

SHARES IN Hammerson, one of the UK's leading property companies, lost more than 3 per cent yesterday closing at 465p as the City reacted to the surprise retirement of chief executive Ron Spinney Mr Spinney, aged 58, who is credited with turning the group's performance around, will become non executive chairman. He will be replaced as chief executive by 43-year old John Richards, head of the company's continental European divisions and development programme.