This article is from the Australian Property Journal archive
PROPERTY giant Dexus has decided to promote from within following a global search, by elevating chief investment officer Ross Du Vernet to take the helm as its new chief executive officer.
He will assume the position in March 2024, taking over from Darren Steinberg who is stepping down after 11 years leading the group. Steinberg will remain until that time to ensure a smooth transition.
Dexus chair Warwick Negus said the board has spent much of 2023 planning for succession, which also included executing a global search, and is confident that Du Vernet will succeed in leading Dexus through its next phase of growth.
“During his time at Dexus, Ross has made a significant contribution to the delivery of our strategy and repositioning the company as a leading Australasian real assets manager. The combination of his deep property investment expertise, track record of setting and delivering on strategy and his knowledge of the Dexus business makes Ross the ideal successor.
“I would again like to thank Darren for his leadership over the past 12 years. Since joining Dexus in 2012, Darren has been instrumental in growing Dexus’s total funds under management from $12.9 billion to $61.0 billion, while at the same time enhancing portfolio quality and diversifying the platform including into new sectors such as healthcare, opportunistic and infrastructure,” said Negus.
Steinberg said it has been an honour to have been the CEO of Dexus and he congratulated his successor.
“I am confident in the future under Ross’ leadership,” he added.
Du Vernet said it is a privilege to be appointed to the role of CEO.
“Dexus is at an exciting stage in its evolution, with strong foundations and a unique set of capabilities in the platform. Darren is handing over Dexus in a strong position and I am committed to working with our clients, the board and wider Dexus team as we deliver long-term value for investors and work towards our vision of being globally recognised as Australasia’s leading real asset manager.”
Du Vernet has been a member of the executive leadership team since he joined Dexus in 2012. He has more than 20 years’ experience in the property industry with a background in corporate transactions, strategy, development and funds management.
