Retail Parks-focused property giant British Land is to lose a senior independent director, with Preben Prebensen announcing he has decided to step down from the board from 31 January. No reason was given for his departure..

Loraine Woodhouse, who joined the board in March 2021, will become the replacement senior independent director from the same date.

Preben joined the board in September 2017 and took on the role of senior independent director in July 2020.

In this role he led the search for British Land’s current chair, William Rucker, whose appointment was announced in last March.

Prebensen said: “Having overseen the Chair succession, it feels like an appropriate point for me to stand down.”

Rucker added: “Preben has been an exemplary Board colleague whose expertise is well regarded both inside and outside British Land. His contribution will be missed and we wish him well in his other endeavours. I look forward to continuing to work with Loraine in her new role.”

The Prebensen departure comes at a time when the major commercial property company is enjoying success based on its focus on the retail parks sector which now accounts for almost a third of its property portfolio.

In its last performance update in November, British Land said it was “pleased” with its operational and financial momentum, reporting underlying profit rising to to £143 million, with its chief executive Simon Carter noting it was seeing a “significant development activity… a key driver of future profit growth.”