Managing director of Frasers Australand Bob Johnston has been announced as the new chief executive of the GPT Group.
Mr Johnston’s appointment was announced today (Tuesday) by GPT chair Rob Ferguson.
“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.
He said while there were strong internal and external candidates, Mr Johnston was “the right choice to lead GPT as the Group looks to capitalise on its strong position in the AREIT sector”.
“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 chief executive role.
“GPT has strong market positions in retail, office and logistics,” Mr Johnston said. “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.
“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 chief executive and managing director Michael Cameron announced his resignation in April after six years, and will head to Suncorp Group to become group chief executive and managing director.
Mr Johnston has a six month notice period with Frasers Australand, and will commence as chief executive of GPT no later than 25 January 2016.
Frasers quickly appointed its executive general manager residential Rod Fehring, to fill Mr Johnston’s role, newspaper reports said.