IAN HENDERSON, the former chief executive of Land Securities, and Sir Robert Finch, the former Lord Mayor of London, are the leading contenders to succeed Donald Gordon as chairman of Liberty International after joining the board as non-executive directors yesterday.

It is understood that both men are being considered seriously for the chairmanship of the FTSE 100 property company, along with Patrick Burgess and Robin Buchanan, two of the existing non-executive directors.

Ironically, Mr Henderson was precluded from becoming chairman at rival Land Securities last year because the property group did not want to breach the Higgs corporate governance guidelines against a chief executive stepping up to the role of chairman.

Mr Gordon is due to step down as chairman of Liberty on his 75th birthday in June but he will remain in the role of life president of the group and will continue to offer strategic advice to the business.

Alongside the new non-executive appointments, Liberty also announced that Kay Chaldecott and Richard Cable, two senior directors in Liberty’s shopping centre arm, Capital Shopping Centres, had been promoted to the executive board.

News of the appointments came as Mr Gordon insisted that he had no plans to sell his family’s 22 per cent stake in the business, amid continued rumours that Westfield, the Australian shopping centre giant, or a large American real estate investment trust (REIT), such as General Growth Properties, will try to buy the business.

“I have no reason whatsoever to sell my stake under any circumstances. It is the best investment I could leave as inheritance for my family,” Mr Gordon said.

The South African property magnate added that if necessary he would buy more shares in the company to block any hostile takeover attempt.

“Lots of companies are interested in Liberty. Why wouldn’t they be? But there really is no point, at almost any price, in selling my stake” Mr Gordon said.

Analysts said yesterday that they expected battle for control of the company to commence later this year.

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