TR Property Investment Trust PLC announced that Peter Salsbury retired as Chairman of the Board of Directors following the Annual General Meeting on July 23, 2013. He was succeeded as Chairman by Caroline Burton who was previously the Senior Independent Director. Caroline joined the Board in June 2002.

She is a non-executive director of Blackrock Smaller Companies Trust plc, Liverpool Victoria Friendly Society Ltd. and a member of the Appointments Committee of Hermes Property Unit Trust. She also advises a number of pension funds and charities. Following Caroline's transition to Chairman, Hugh Seaborn was appointed as Senior Independent Director.

Hugh joined the Board in July 2007. He is Chief Executive Officer of the Cadogan Estate and a member of the Council and Audit Committee of the Duchy of Lancaster.