Roger Bright CB, Chief Executive of The Crown Estate, is to retire at the end of December 2011

Roger Bright CB, has announced that he will retire at the end of December 2011.  He will be 60 this year, and will have been Chief Executive of The Crown Estate for 10 years.  The Chairman, Sir Stuart Hampson, will now set in hand, in conjunction with the Treasury, the process for selecting a new Chief Executive.

Sir Stuart said: Although I am extremely sorry that Roger has made this decision, I understand his reasons for it.  I want to thank Roger for everything he has achieved.  During his ten years as Chief Executive, The Crown Estate has been transformed into one of the UKs most successful property businesses which is now worth over 6.6 billion.  It has delivered some spectacular results the total amount of profit earned during his tenure and paid to the Treasury for the benefit of the nation, has been 1.9 billion.

Under his stewardship and as a moderniser, Regent Street has been reshaped into one of the worlds leading retail and office locations.  In addition, he recognised early on, there were opportunities to be realised, for both the business and the UK as a whole, in the potential of offshore renewable energy the scale of which is now making the UK a world leader.  Roger remains very much in post until the end of 2011 and there will be opportunities later in the year for all of us in The Crown Estate to thank him for his exceptional contribution.

Roger Bright said: It has for some time been my intention to retire this year when, on becoming 60, I will have been Chief Executive for 10 years.  It is a privilege working with so many talented and committed colleagues and I am confident that The Crown Estate is in a very strong position for the future.

• Sir Stuart Hampson, Chairman of The Crown Estate was previously Chairman of the John Lewis Partnership.
• The Chief Executive of The Crown Estate is appointed in accordance with the Office of the Commissioner for Public Appointments (OCPA) Code of Practice.
• The Crown Estate manages a highly diverse property business valued at 6.6 billion.
• We pay all of our surplus revenue (profit) to the Treasury for the benefit of the nation every year: in 2009/10 this was 210.7 million. Over the past 10 years The Crown Estate has paid a total of 1.9 billion to the Treasury.
• Our objectives, which are laid down by Parliament under the Crown Estate Act 1961, include enhancing the value of the estate and the revenue it produces.
• The responsibilities of The Crown Estate are to maintain and enhance the value of the estate and its income over the long term and to do this having regard to good management.   In summary, The Crown Estate is a successful business organisation guided by our core values commercialism, integrity and stewardship.
• The Crown Estate manages a diverse property portfolio which includes office, retail and industrial premises; housing; farmland; forestry and minerals; parkland; and around half the foreshore and almost all the seabed around the UK.
• The Crown Estates property comprises four estates: Urban, Marine, Rural and Windsor.