THE GPT GROUP 21 July 2015
The GPT Group (GPT) is pleased to announce the appointment of Mr Bob Johnston as the new Chief Executive Officer, replacing outgoing CEO and Managing Director, Mr Michael Cameron.
The GPT Chairman Mr Rob Ferguson announced Mr Johnston, who is currently Managing Director of Frasers Australand had been selected by the Board following an extensive candidate search. Mr Johnston has a six month notice period with his current employer. Mr Johnston will commence as CEO of GPT no later than 25 January 2016.
Mr Johnston is an experienced property executive who has a strong background in all facets of the real estate value chain, both domestically and internationally. He has broad experience across GPT's key asset classes. This is supplemented with a deep understanding and established skill set in funds management, asset management and property development.
"Mr Johnston brings a wealth of experience in the property industry and we are confident that he will successfully lead GPT in its next phase of growth," Mr Ferguson said.
"Mr Johnston is the right choice to lead GPT as the Group looks to capitalise on its strong position in the AREIT sector.
"The business is in very good shape. Under Michael Cameron's stewardship, GPT has grown to become one of the largest owners of office properties on Australia's eastern seaboard, it has built a strong performing, high quality retail portfolio, proven capability in logistics and a highly regarded Funds Management platform.
"The Board conducted a thorough process which included very strong internal and external candidates. All internal candidates were considered by the Board to be of a high standard and remain an important part of the Group's future. Mr Johnston was chosen for the skills he brings to the Group which will enhance the overall strength of GPT to ensure its future success."
Mr Johnston said that it was a privilege to be appointed to the CEO role and to be given the opportunity of further developing the enviable platform that exists today.
"GPT has strong market positions in Retail, Office and Logistics. I will build upon these strong foundations and take an active position in creating product to grow the business across these sectors over the medium term," Mr Johnston said.
"I am passionate about property, people and performance. I am looking forward to assuming the role as soon as possible and further consolidating GPT's position as one of Australia's leading property and funds management businesses."
Outgoing CEO Michael Cameron announced his resignation in April after six successful years leading GPT, to become the Group CEO and Managing Director for Suncorp Group. Mr Cameron is due to commence his new role in October 2015.
Mr Cameron said the Group was working towards its Interim Result announcement on 18 August and he would also now be focused on a smooth transition to the new CEO.
"I believe the Board has made a good choice in appointing Bob to deliver continued success for the Group," Mr Cameron said.
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