Terry Pritchard has quit his position at Freehold – but denies this is a result of pressure from lenders.
The proprietor of Chase UK was appointed managing director for Freehold in November following his step down as chief executive officer of Chase UK in October.
In November he was also appointed as a part-time consultant for edeus, which mutated into his current role as director of packaging in February.
Some sources say that lenders doing business with Freehold have been concerned that Pritchard’s involvement with both the association and edeus was a conflict of interests.
But Pritchard says: I have enjoyed my job, but to be honest my other consultancy commitments take up far too much of my time and dont allow me to get as involved as I would like.
I took the position until such a time as we were strong enough to afford someone with the right attributes – and we are now able to do that.
I will however assist in funding the right person to take the managing director position long term and I will also be part of the committee selection process for new members.
Shaun Vickery, managing director of the Select Partnership and chairman of Freehold, says: The appointments we made in November have contributed to the association but we are now fully funded and Terry has always made it clear that he did not want the job in the long-term.
“Moving forward we need to get the right person on board to replace him as soon as possible.
Paul Brett, the former principal of Freehold and a current member of the steering committee, has also given up his involvement with Freehold to concentrate on the associations lender FML.
He says that an increasing workload meant it was the right time stand down.
Freehold will be putting together a shortlist of potential candidates of candidates over the next few weeks.