Preferred candidate for Chair of The Crown Estate confirmed
The Chancellor of the Exchequer Rachel Reeves has announced Ric Lewis as the Government’s preferred candidate for the position of Chair of The Crown Estate.
Mr Lewis is the founding partner of Tristan Capital Partners, a UK based real estate investment company, as well as founder and Chair of The Black Heart Foundation. His most recent roles include non-executive functions at Legal & General, Imperial College London, The Earthshot Prize, and executive roles at Tristan Capital Partners.
The Crown Estate, an independent commercial business set up by a 1961 act of parliament to act in the long-term national interest, manages a diverse £16 billion marine, urban and rural portfolio across England, Wales and Northern Ireland. Its focus is on supporting the UK’s transition to a decarbonised, energy secure future; enhancing nature recovery; creating inclusive communities and economic growth; and generating a strong financial return for the benefit of public spending. This has totalled £4 billion over the last ten years.
The Chair leads The Crown Estate’s board, which is responsible for ensuring The Crown Estate meets its statutory objectives and duties, and provides strategic oversight of the business.
Mr Lewis was chosen as the preferred candidate after an open recruitment competition and assessment process, conducted by a panel in line with the Governance Code on Public Appointments.
Mr Lewis will go on to attend a pre-appointment hearing before the Treasury Select Committee in the new year. Following Mr Lewis’s pre-appointment hearing, the Treasury Select Committee will release its recommendations. The Chancellor of the Exchequer will review these recommendations before making the final decision. The role of the chair is on a fixed-term with an option to renew after four years.