January 20, 2011 / 11:44 AM / 9 years ago

UPDATE 1-Hammerson hires Gt.Portland's Drakesmith as CFO

* Hammerson appoints Gt. Portland FD as new CFO

* Hammerson shrs slightly lower, Gt Portland down 1.3 pct

(Adds details, share reaction)

LONDON, Jan 20 (Reuters) - Anglo-French mall owner Hammerson (HMSO.L) said on Thursday it has appointed Timon Drakesmith, currently finance director of Great Portland (GPOR.L), as its new chief financial officer with effect from end-May.

Simon Melliss, who has been Hammerson’s CFO since 1995 and turns 59 in July, will retire from the role on end-June 2011, Hammerson said in a statement.

“I am delighted that Timon Drakesmith is to become our new CFO. He is a successor with proven capability and sector expertise, as well as significant wider industry and corporate finance experience,” Hammerson CEO David Atkins said.

By 1135 GMT, Hammerson shares were slightly lower, down 0.16 percent to 436.4 pence each, while Great Portland fell 1.3 percent to 358.6 pence, against a 0.6 percent fall in the UK property stocks index .FTELUK.

Great Portland, which is a specialist in London offices, said separately that a search for Drakesmith’s replacement as finance director is underway. [ID:nRST8070Za]

(Reporting by Daryl Loo; Editing by Sinead Cruise)

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