The Crown Estate has announced a major restructure of its business, which will see the creation of three new senior roles and the departure of general counsel Vivienne King.

King has worked for the Crown Estate for 21 years and currently holds the position of director of business operations as well as general counsel. As a result of the restructuring the two job roles will be split into two separate positions. It is not yet known who will take up the roles.

King said: “It has been enormously enjoyable working closely with colleagues in transforming a traditional landed estate into one of the most important and progressive real estate businesses in the UK. It’s now time for me to broaden my horizons beyond the Crown Estate and expand my career in other ways.”

She added that she will continue to work with the new team to ensure a “smooth transition to the new structure” until she leaves the company in December.

The restructure will produce an executive committee made up of CEO Alison Nimmo and the newly created roles of chief financial officer (CFO), chief investment officer (CIO) and chief operating officer (COO).

Director of investment and asset management Paul Clark will become CIO. His responsibilities will include business portfolios such as central London, regional retail and joint venture operations.

Finance director John Lelliott will be appointed interim CFO for 18 months while recruitment for a permanent candidate is carried out. Once his replacement is found Lelliott will retire from the business to focus on his non-executives roles.

Director of corporate affairs Judith Everett is set to be appointed COO and will be responsible for the business’s support functions. These will include corporate affairs, sustainability and stewardship, human resources, health and safety and facilities management.

The new executive committee will come into effect on 1 April 2016. Along with these new roles James Cooksey has been promoted to the director of central London and will be responsible for the lucrative Regent Street and St James’s portfolio.

The value of assets managed by The Crown Estate is currently £13bn. Last year the estate announced its slimmed-down roster of external legal advisors, which saw Clarke Willmott dropped in favour of Bond Dickinson and Burges Salmon.