(Reuters) -Unite Group's CEO Richard Smith will step down this year-end and be replaced by finance chief Joe Lister, Britain's largest student accommodation provider said on Thursday.
Smith, 49, joined the company in 2013 and served as chief executive for seven years.
Under his tenure, the Bristol, UK-based firm significantly grew its business to the current 157 properties across 23 university towns and cities.
The London-listed firm's shares have soared about 38% on Smith's watch, and were added to the blue-chip FTSE 100 index in 2022.
Lister, 51, steps into the CEO role after 22 years with Unite Group (LON:UTG), including 15 as its chief financial officer.
Separately, the company said occupancy for the 2023-24 academic year stood at 99.7%, with a rental growth of 7.3%.