Probuild announces senior executive changes

EXCLUSIVE

West Melbourne based developer Probuild is implementing an executive succession planning strategy affecting senior roles.

The move follows the June 30 retirement of Ted Yencken (pictured bottom, right), a former Probuild director who later held the positions of WBHO Australia chairperson and non-executive director.

Mr Yencken has been part of the Probuild business for 24 years.

The changes announced today and which come into effect on October 1, 2019, are:

Probuild group managing director Simon Gray will take on the role of executive chairman, Probuild Constructions and WBHO Australia.
  • Simon Gray, (pictured, right) group managing director, will take on the role of executive chairman Probuild Constructions and WBHO Australia;
  • Luke Stambolis will move into the role of managing director, Probuild Constructions, Australia;
  • Sam Delmenico will become the managing director of Probuild Constructions, Victoria;
  • Adam Barker will fill the role as managing director, Probuild Constructions, Western Australia;
  • Brad Duggan to be the director and chief financial officer of WBHO Australia, adding to his current role as director and chief financial officer of Probuild Australia.
Probuild founder and race horse owner Phil Mehrten.

Mr Gray said the company’s long-term future will be in the hands of its people.

“We provide exciting opportunities for the development and nurturing talent in our businesses, and these are great examples,” the executive said.

“This is a natural progression for these leaders. They have been selected because of their outstanding leadership, construction and business skills and will future proof our business”.

Ted Yencken retired on June 30 after 24 years with Probuild and its associated companies.

In July, we reported that Poly Australia appointed Probuild to construct a 23-level, 40,000 square metre office at 1000 La Trobe Street, in Melbourne’s Docklands.

Eleven months ago, we reported that Probuild founder and managing director Phil Mehrten (pictured, above, right) sold an office built into the former Prahran Post Office, in Greville Street, for $13.4 million.

Last May, the businessman sold a mixed-use commercial asset at 2 Small Street, Hampton, for $3.6 million.

An office at 1 Oxley Road, Hawthorn, which Mr Mehrten co-owned with Edward Yencken, another Probuild executive, and Wayne Judson, a former St Kilda footballer, also sold last May – the $15 million sale price achieved against a $9 million price guide.

Last April, Docklands-based law firm Adley Burstyner and Roscon Property Services launched a $4.2 billion class action targeted against several developers, including Probuild, related to Victoria’s combustible cladding disaster.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco
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