UK - Aberdeen Property Investors chief executive Iain Reid is set to resign following an aborted attempt to sell the firm last month.
Aberdeen Asset Management called off talks about the sale of API after deciding that British Land’s offer was too low.
The offer was understood to be less than half the £100m asking price and Aberdeen stressed it would not sell API “on the cheap”.
At the time, Aberdeen insisted that API’s management team would remain in place despite the aborted sale.
However, an Aberdeen spokesman confirmed that Reid – who is currently on holiday – has informed Aberdeen he intends to leave.
The spokesman said: “The company is in talks about his possible departure. Iain had his heart set on the sale of API, and feels that he wants a change after the sale didn’t go through.”
Aberdeen group development director Paul Aggett has moved to API and taken over as chief operating officer.
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