The board of Capital Theatre reluctantly accepted his resignation at a meeting on Tuesday of this week and expressed their appreciation for the significant contribution Mr Hendry had made to transforming the fortunes of the Trust over the last seven years.
With regard to the King’s redevelopment, I should point out that a considerable amount of the funding for this project is in place – over £10m – including £1.2m of donations received from philanthropists since the design team was announced in early November. Mr Hendry has been leading the fundraising effort and will remain involved after his retirement.
When Duncan Hendry joined what was then Festival City Theatres Trust in January 2012, the organisation had a substantial financial deficit and had not long been through the painful process of staff redundancies resulting in a reduction of 25 per cent of its full-time, permanent staff.
Seven years on, under Duncan’s stewardship and its new name of Capital Theatres, the organisation’s fortunes have been reversed with the deficit long cleared, surpluses recorded for the past seven years and the long overdue redevelopment of the King’s Theatre at last underway.
Mr Hendry has been an outstanding chief executive and it was with regret that myself and the board accepted his resignation earlier this week.
Dame Joan Stringer, Chair of the Board, Capital Theatres.