Cambridge Industrial Trust CEO resigns

THE chief executive of Cambridge Industrial Trust's manager has resigned, and will be returning to Australia for family reasons.

Mr Chris Calvert had led Cambridge Industrial Trust Management, which manages the real estate investment trust (Reit), for the past five years. He will also be stepping down as executive director of the Reit manager.

In a statement, the Reit manager's board called Mr Calvert's tenure "a period of significant achievements for Cambridge Industrial Trust in an uncertain environment".

The board has appointed a new CEO which is subject to clearance from the authorities.

Another announcement will be made once the appointment becomes effective.

To ensure a smooth transition, Mr Calvert will remain with the Reit manager until then.