The GPT Group has today announced that Chief Executive Officer and Managing Director, Bob Johnston, has advised of his intention to retire by the end of this year after more than seven years in the role.
Johnston joined GPT as Chief Executive Officer in September 2015. He is an experienced property executive and business leader with a career spanning more than 30 years.
Johnston has been involved in most facets of the property sector including investment, development, project management and construction in Australia, Asia, the US and the UK. He has a wealth of experience in funds management, asset management, development and across most property asset classes including office, industrial, retail and residential. Prior to joining GPT, Johnston was Managing Director of Australand Property Group (now known as Frasers Property Australia). He also held various senior positions at Lendlease.
GPT’s Chairman, Vickki McFadden, said: “On behalf of the Board I would like to thank Bob for his ongoing dedication and leadership of GPT. Bob has made an outstanding contribution to GPT, successfully leading it through a period of significant growth and designing and implementing changes to its strategy, structure and portfolio mix that has positioned the Group for continued success. With Bob’s leadership during the selection process, GPT will maintain its focus on creating value for security holders and provide continuity for our investors, employees and customers.
“The Board has appointed Russell Reynolds to assist with the selection process that will consider both internal and external candidates to ensure the right leadership to execute on GPT’s strategy and build on its success.”
Bob Johnston accepting the award for Melbourne Central’s top MAT/m2 performance at SCN’s 2019 Big Guns lunch
Johnston said: “It is the right time to advise of my intention to retire and to provide the Board with sufficient time to allow for a smooth transition and continuity. I know that GPT is in a strong position, and I am proud of what we have accomplished for our customers, investors, employees, security holders and the industry. GPT has a strong team of experienced and talented people and I remain committed to leading GPT and ensuring that there is a smooth transition process for my successor.”
Johnston will continue as CEO until the commencement of his successor and will work closely with the Board to ensure a smooth transition.
