GLOBAL – Chris Peacock has resigned as president and chief executive of real estate firm Jones Lang LaSalle to “spend more time with his family”.

The firm said in a statement that he would be replaced on an interim basis by board chairman Stuart Scott until a permanent replacement is named.

“Mr. Peacock's resignation is based on his personal decision to spend more time with his family,” it said, adding that it would not adjust its 2003 earnings guidance.

"On behalf of the board of directors, I would like to sincerely thank Chris for his more than 30 years of committed service to the firm," said Scott, who was CEO from 1999 to 2002.

"We are beginning our search for a new CEO immediately and, while we expect to move quickly, we will take whatever time is required to select the best person to lead our company.

“I want to emphasize that, during this time, we will not be distracted from our commitment to the highest standards of client service, and to our employees and shareholders."

Jones Lang LaSalle manages about 735 million square feet of property worldwide, and its LaSalle Investment Management unit oversees about 21 billion dollars of assets.