This article is from the Australian Property Journal archive
AUSTRALAND has poached Bob Johnston, the current global chief executive of Bovis Lend Lease, to replace retiring managing director Brendan Crotty.
The appointment of Johnston to the helm of managing director and chief executive of Australand will ends a seven month long search for group.
Crotty is due to retire in June 30 this year after spending more than 30 years with Australand with the last 17 as the managing director and chief executive.
“The board wishes to record its appreciation to Brendan for taking Australand from its listing in 1997, with an initial market capitalisation of $348 million to its $2 billion market capitalisation today, achieving ten consecutive years of record profits,” Australand’s chairman Tham Kui Seng said.
Johnston’s appointment will take effect from early August 2007 and in the intervening period, Crotty has agreed to be available to ensure a smooth transition.
Tham said Johnston is joining Australand after a very successful career across all aspects of the property and real estate sector with Lend Lease.
“Bob’s extensive leadership experience across the project management, construction and funds management aspect of the industry will greatly complement Australand’s existing internal development capabilities,” he added.
Johnston is currently the global chief executive of Bovis Lend Lease and based in London.
He graduated in 1986 with a Bachelor of Electrical and Electronic Engineering, Honours 1 from James Cook University, Townsville.
Johnston has had a long career with Bovis Lend Lease both locally and internationally. Before taking up a post in London, he was the chief executive of Bovis Lend Lease Asia Pacific and prior to that the chief operating office of Lend Lease Real Estate Investments US based in Atlanta in the United States.
“The opportunity to lead a company with such a strong track record to reach its future potential is one that really excites me. I look forward to working with the Australand team and investors in the company to build on Brendan’s legacy.” Johnston added.
Meanwhile, Australand’s current executive general manager of commercial & industrial and investment property divisions, John Thomas, will assume the additional role of chief operating office.
Peter Burke will continue as executive general manager of the residential division, reporting to Thomas.
“Bob will use his extensive international leadership and operational experience to steer Australand towards a very exciting future. The addition of Bob’s strategic and leadership expertise to the significant in-house development capabilities and John’s intimate knowledge of the market in which Australand operates will accelerate the expansion of the group’s operations.” Crotty said.
Meanwhile, Bovis Lend Lease has appointed construction and development senior executive, Mark Menhinnitt as the new global chief executive.
Menhinnitt has worked with Lend Lease for over 19 years, serving in a range of senior construction and management roles before becoming COO and then president of the group’s Actus Lend Lease military housing business in the US.
Menhinnitt will join the group’s senior executive management Team and his appointment is effective from May this year, enabling a handover period before Johnston leaves the group at the end of June.
Lend Lease’s managing director Greg Clarke said Menhinnitt is ideally suited to take on his new role, bringing long term knowledge of the Group’s operations, substantial construction management experience and proven business development capabilities.
“We have a deep management talent pool from which to draw, which enables the group to effect senior management change smoothly and quickly when and if the need arises.
“I’d also like to say that we wish Bob Johnston well in his new role. We are disappointed to lose him but can understand his desire to take on a group CEO role,” Clarke concluded.
Australian Property Journal
