Chesterton Chairman, Peter Brooks, said:. 'Lorraine brings yearsof experience in the property market particularly from aninvestment and financial perspective. She combines managementexpertise, business experience and a strong property background,making her an excellent candidate for this job.'

Baldry replaces Michael Holmes who stepped down in September2001 after the company was forced to issue its second profitwarning of the year. Subsequently Chairman Brooks led a swingeingcost-cutting programme including substantial redundancies. However,in a trading statement last month the company said tradingconditions had now stabilized.

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