Grainger COO to step down at end of January

13th Jan 2014 13:28

The Chief Operating Officer (COO) of residential property owner Grainger has announced plans to leave the company at the end of January. Peter Crouch, who has been with the company since 2005, will receive a severance payment based on his salary as well as performance-related share options under the company's long-term incentive plan. A replacement COO is not sought, the company said. Chief Executive Officer Andrew Cunningham commented: "Peter has made a significant contribution to the evolution, growth and improvement of the business over the past nine years. His commercial acumen and management skills were invaluable during a challenging period in the company's history. "I am very appreciative of all he has achieved and offer my best wishes to him in his future endeavours."NR