Stockland today announced that its chief executive officer and managing director Mark Steinert would retire.
The businessman took over from Matthew Quinn seven and a half years ago.
Since that time, strategic shifts including the company’s expansion into logistics and a repositioning of its town centre business, were implemented.
Stockland chairman Tom Pockett said it is now looking internally and externally for a replacement.
“A flexible period of transition has been agreed with Mark to provide for a smooth handover and to ensure that there is a strong focus on leading the organisation through the COVID-19 recovery period,” Mr Pockett added.
“Mark has made a great contribution to Stockland and will continue to apply his passion and commitment to the delivery of our strategic priorities and our purpose of creating a better way to live during this transition period (story continues below).
“We have made significant progress in reshaping our portfolio and creating a customer centric business.
“Mark has fostered a strong executive team, made significant advances in building innovation and digital capabilities and solidified Stockland’s position as a diverse employer of choice and global leader in sustainability.”
Mr Steinert, a former UBS analyst, added his immediate priority “is driving initiatives to take advantage of the COVID-19 recovery period and further accelerate the digitisation of our business”.
“Stockland’s strong liquidity position means we are well- placed to deliver on our purpose and identify new opportunities as we meet customer needs through our leading communities and assets across the country”.