Robert Swannell to retire from 3i and British Land boards

Robert Swannell is to stand down from his non-executive role at 3i, the
private equity firm announced today in preparation for the chairmanship of Marks
& Spencer.

He is also dropping a non-executive role at British Land to take up the M
&S post.

Swannell chairs 3i’s audit committee, but is taking over from Sir Stuart Rose
as the retail giant’s chairman.

3i said today in a statement to the city: “Robert Swannell, non-executive
director and senior independent director, has indicated that he intends to
retire from the board with effect from 1 October 2010 in order to concentrate on
his other responsibilities.”

Swannell is a qualified chartered accountant who forged a career in the
investment banking world.

Sir Adrian Montague, chairman of 3i, said:

“The board would like to thank Robert for his outstanding contribution to the
company as a director and audit committee chairman. We all wish him every
success in his new role as chairman of Marks & Spencer group plc.”

British Land also accepted Swannell’s resignation with effect from 1 October
2010.

Chris Gibson-Smith, chairman of British Land, said:

“The board would like to record our deep gratitude and appreciation to Robert
for his exceptional contribution to British Land over some eleven years, with
service as audit committee chairman and senior independent director.

“We offer Robert our very best wishes for the future.”

Further reading:

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