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UK: Tom Jackson will step down as a non-executive director of Unite after the Canada Pension Plan Investment Board (CPP) reduced its shareholding in the student accommodation provider.
CPP sold its stake in the developer and operator of student housing down to just over seven per cent, below the 10 per cent threshold required for it to have a seat on the board.
A regulatory filing showed CPP Investments now holds 36.4 million voting rights in Unite, down from a previous holding equivalent to 14 per cent of the company.
Jackson, CPP’s managing director and head of real estate – Europe, joined the Unite board in 2019 following Unite’s acquisition of Liberty Living from CPP Investments.
Jackson said: “CPP Investments values its constructive relationship with Unite and remains supportive of its strategic priorities.”
Richard Huntingford, chair of Unite Group, thanked Jackson for “his valued contributions and support to the group as it has evolved its strategy over the past six and a half years”.
Highlights:
• Canada Pension Plan Investment Board (CPP) has reduced its shareholding in student accommodation provider Unite from 14 per cent to seven per cent
• CPP’s Tom Jackson will step down as a non-executive director of Unite
• A regulatory filing showed CPP Investments now holds 36.4 million voting rights in Unite
