Trafford Centre owner names FD as new chief executive

Shopping centre operator intu has appointed its finance director at its new chief executive.

Matthew Roberts, who was finance boss at Gala Bingo (later Gala Coral), will take over at intu, which owns the Trafford Centre and the Arndale, from David Fischel.

John Strachan, chairman of intu, said: “David’s substantial contribution to intu’s affairs over many years has been outstanding and he will be greatly missed by the Board and all of intu’s staff.  I would like to extend my personal gratitude to David for continuing to steer the Group for a longer period than was originally intended until we had completed our succession process.  David will leave intu with our very best wishes.”

Matthew has been an exceptional CFO at intu. This, combined with his extensive and relevant experience,including his proven expertise in leading strategic transformation projects, means he is absolutely the right person to lead this business going forward.”

Roberts lands the top job at a critical time for intu, which recently saw the value of its estate plummet after two unsuccessful takeover bids.

intu has started the redevelopment of the Broadmarsh centre in Nottingham. It says it will spend £30m on the scheme this year, £32m next year and £20m in 2021.

The company says some 45% of the project is either exchanged or in “advanced negotiations”. The redevelopment is expected to complete in the second half of 2021, intu says.