Stockland reshapes business for future growth
28 August 2018
Stockland:
Stockland today announced changes to its Executive Committee and the
integration of its
retirement and
residential businesses, to improve
operational efficiency and position the business for sustainable growth
into the future.
Stockland’s retirement and residential businesses will be combined under
the leadership of Andrew Whitson, currently Group Executive and CEO
Residential, who will become Group Executive and CEO, Stockland
Communities.
Stockland Managing Director and CEO Mark Steinert said: “We are proud of
our position as the leading creator of liveable and affordable
residential and retirement living communities across Australia. These
changes will ensure we continue to execute on our communities strategy,
taking advantage of our integrated model and leverage capabilities
across the group.
“We have a long track record of creating some of the best masterplanned
communities in the country. We have a clear vision to deliver into the
future, and we are well positioned to benefit from the continued
population growth and demographic trends being experienced in Australia,
particularly given our focus on liveability, affordability and the owner
occupier market.
“We have already successfully combined our medium density and retirement
living development teams to leverage our capability in delivering built
form. Bringing our retirement and residential business together will
realise further operational synergies.”
The integration will further strengthen Stockland’s communities focus,
with a combined development pipeline of over 82,000 residential lots and
3,000 retirement units in key growth corridors across the country. We
have over 12,000 residents living in our 65 retirement villages
nationally.
Commenting on Andrew Whitson’s appointment to lead the new Stockland
Communities business, Mr Steinert said: “Andrew has extensive experience
delivering some of Australia’s largest and most successful mixed use
communities. Under his leadership, the combined Communities business
will continue to focus on delivering on our strategic priorities:
enhancing our customer experience, driving sales, and providing product
choice to our customers.”
As part of the integration of these businesses, current Group Executive
and CEO, Retirement Living, Stephen Bull will leave Stockland, after
eleven years’ service.
Mr Steinert said: “Over the last six years, Stephen has overseen our
retirement living business, delivering award winning projects such as
Cardinal Freeman in Ashfield and the innovative new Aspire product for
over 55s.
“Stockland is now the third largest retirement developer in Australia
and a highly regarded village operator with high resident satisfaction
levels. Prior to his current role, Stephen led the capital transactions,
development and design teams in our commercial property business for
five years.
“On a personal note, I thank Stephen for his passion for the retirement
sector and his contribution as a leader of our business and across the
industry. We wish him all the best for the next phase of his career.”
As part of the changes being introduced to drive operational
efficiencies, Chief Operating Officer Michael Rosmarin will also leave
Stockland after eight years’ service. The ‘Group Operations’ functions
will be reallocated across the other group functions.
“I would like to thank Michael for his significant contribution to
Stockland over many years, including his leadership on driving employee
engagement, sustainability leadership and risk management focus across
the group. I wish Michael all the best for his future endeavours,” said
Mr Steinert.
These changes are effective 10 September 2018, and combined with other
organisational changes, will deliver cost savings of $8 million per
annum from FY20, some of which will be reinvested in innovation and
technology.
Mr Steinert added: “The repositioning of our Executive Committee, which
includes the recent appointments of Louise Mason as Group Executive and
CEO, Commercial Property, and Robyn Elliott as Chief Technology and
Innovation Officer, sets us up for strong growth in the next five years.
“Louise and Robyn have deep skills and experience in our strategic focus
areas, including lifting the quality of our retail town centres, growing
our workplace and logistics portfolio and driving innovation and
digitisation across our business.
“Our market-leading Communities business, led by Andrew Whitson, is also well-positioned for future growth given its focus on the deepest part of the lending market (owner occupiers and first home buyers) in connected growth corridors, setting us up well to deliver returns now and into the future,” said Mr Steinert.
--ENDS--
Source: Stockland - www.stockland.com.au
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