One of the region’s best known businessmen has stepped down from his position heading a development giant in the North East.
No reason has been given for the departure of Mr Moat, who made a multi-million fortune with the Premier Direct group and who hit the headlines in 2009 when he tried to buy Newcastle United from owner Mike Ashley.
Mr Moat has been replaced as chairman at Lugano by Richard Robson, the former chief executive of Tynedale Council, who has been at Lugano since 1991.
Mr Robson said: “Barry’s input has been pivotal in creating the new team and these most recent changes have been in development for some time. It marks the start of an exciting new chapter for the company.”
The Journal tried to contact Mr Moat for comment on his departure but he was not available.
In a statement released by the company, he said: “I wish Lugano’s new board every success in the future. They are a formidable team and I am pleased to have been part of the group’s evolution and success. These changes have been carefully planned and will ensure the company goes from strength to strength.”
As well as Mr Robson’s appointment, Lugano has appointed planning director Scott Munro and commercial director Allan Henderson to its board.
Mr Robson said: “These board appointments strengthen our position as a key player in the North-East and build on our successes to date. We have an exciting and innovative portfolio of projects that the team will take forward over the coming months and years.”
Lugano has a land and property bank worth more than £120m with properties from Northumberland down to Cheshire.
Among its assets are the Kensington House Aparthotel and the former Gresham Hotel, in Jesmond, Newcastle, properties at High Bridge and the Gallowgate, in Newcastle city centre, Moongate House in the Team Valley and the 2,500-acre Dissington Estate in Northumberland.