West Melbourne based developer Probuild is implementing an executive succession plan.
The move follows the June 30 retirement of Ted Yencken after 24 years.
The changes – which come into effect on October 1, are:
- Simon Gray, (pictured, right) group managing director, will take on the role of executive chairman Probuild Constructions and WBHO Australia;
- Luke Stambolis will become managing director, Probuild Constructions, Australia;
- Sam Delmenico will take on the managing director position with 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 position as Probuild Australia director and chief financial officer.
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 added.
“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” (story continues below).
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 building business’ founder and managing director Phil Mehrten (pictured, above, right) sold the former Prahran Post Office, in Greville Street, now a commercial investment, for $13.4 million.
Last May, the businessman offloaded a mixed-use asset 2 Small St, Hampton, for $3.6m.
A workplace at 1 Oxley Road, Hawthorn, which the executive co-owned with Edward Yencken, another Probuild colleague, and Wayne Judson, a former St Kilda footballer, also sold last May.
A month earlier, Docklands-based Adley Burstyner and Roscon Property Services launched a $4.2 billion class action targeted against it and several other developers, related to Victoria’s combustible cladding problem.