Canary Wharf Group (CWG) chairman, Sir George Iacobescu, will retire from the Board on 1 July, following a 36-year career at the real estate company.
Sir George will be succeeded by former Legal & General (L&G) chief executive, Sir Nigel Wilson, who will take up the role of non-executive chairman at the business.
Sir George has been a driving force behind the redevelopment of London’s Docklands since 1988.
He became chief executive of CWG in 1997, chairman in 2011, and was knighted in 2012 for services to charity, community, and the financial industry, the only Romanian-born British citizen to be honoured this way.
Sir Nigel led L&G for almost 12 years and was previously voted “Britain’s Most Admired Leader”. He has also held numerous government policy-related roles.
Sir George said: “It has been the honour and the challenge of a lifetime to have worked with an extraordinary group of people transforming a derelict dock into a thriving mixed-use city district.
“CWG is the first company on the planet to have built an entirely new central business district from scratch.
“Today, Canary Wharf is home to thousands of residents, businesses large and small across many sectors, one of the UK’s busiest shopping centres as well as parks, gardens, shops, restaurants and bars. It is a thriving community in the heart of the old East End.
“With the continuing growth of the tech sector, health and life sciences, new leisure activities and the greening of the Wharf, there are exciting times ahead for the estate.”
He added: “I am pleased to be leaving the company under the capable stewardship of Sir Nigel and Shobi Khan.
“Sir Nigel’s track record at Legal & General is exceptional. I wish him, Shobi, and the leadership team of CWG every success.”
CWG chief executive, Shobi Khan, added: “I would like to extend my sincere gratitude to Sir George for his invaluable leadership and tireless efforts driving Canary Wharf’s tremendous growth over decades.
“We are grateful for his extraordinary legacy, and it has been a privilege to work alongside him.”
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