This article is from the Australian Property Journal archive
AFTER more than seven years leading The GPT Group, Bob Johnston has announced he will retire as CEO and managing director by the end of this year, in another major handover of a top role among Australian REITs.
Johnston will continue as CEO until the commencement of his successor and will work closely with the board to ensure a smooth transition. The board has appointed Russell Reynolds to assist with the selection process which will consider both internal and external candidates.
GPT’s chairman, Vickki McFadden, said, “On behalf of the Board I would like to thank Bob for his ongoing dedication and leadership of GPT. Bob has made an outstanding contribution to GPT, successfully leading it through a period of significant growth and designing and implementing changes to its strategy, structure and portfolio mix that has positioned the group for continued success.”
Johnston said: “It is the right time to advise of my intention to retire and to provide the board with sufficient time to allow for a smooth transition and continuity”.
“I know that GPT is in a strong position, and I am proud of what we have accomplished for our customers, investors, employees, securityholders and the industry. GPT has a strong team of experienced and talented people and I remain committed to leading GPT and ensuring that there is a smooth transition process for my successor.”
GPT’s financial results will be announced on Monday, 20th February.
Johnston’s announcement comes as Mirvac’s longstanding CEO and managing director, Susan Lloyd-Hurwitz readies to handover the reigns to Campbell Hanan, and just after Vicinity Centres appointed Peter Huddle as chief executive permanently following the fast-tracked exit of Grant Kelley.
In recent years Tony Lombardo replaced Steve McCann in the top job at Lendlease, and Tarun Gupta took over from Mark Steinert at Stockland.
