THE founding chairman of the country's largest urban regeneration company has resigned, it was revealed yesterday.
Peter Middleton, who has been chairman of Tees Valley Regeneration (TVR) since 2002, was unavailable for comment last night, but a statement said it was due to his other business and personal commitments.
The move was believed to be a surprise to the region's business community.
Mr Middleton has overseen the development of TVR as it put the wheels in motion for a number of projects, including Middlesbrough's Middlehaven development, North Shore, in Stockton, and Central Park, in Darlington.
He is also chairman of GTL Resources in Yarm.
TVR was set up in 2001 to lead a £1.5bn investment programme in the Tees Valley.
A statement for TVR said that Mr Middleton, who was brought up in Middlesbrough "is a strong believer that such a post should rotate to avoid staleness or stagnation."
TVR chief executive Joe Docherty, thanked Mr Middleton for his leadership and said a successor would be appointed at a future date
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