Charter Hall Group chair David Clarke to retire
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The news: David Clarke will retire as chair of Charter Hall Group in November after 10 years in the role. Non-executive director Stephen Conry has been appointed his immediate successor.
The numbers: The property development and fund manager noted that Clarke has overseen a period of "significant growth" for the group, with funds under management growing from $11.5 billion in FY14 to over $80 billion today.
Over his 10-year tenure, Charter Hall's post-tax operating earnings per share have increased from around 25 cents to 79 cents, according to FY25 guidance. Meanwhile, the period has seen a total return to shareholders of over 350%.
The context: Clarke intends to retire from the board at Charter Hall's annual general meeting on 20 November.
Conry joined the Charter Hall board in January 2023 and has over 40 years of experience in the real estate sector. Until 2022, he was CEO of Jones Lang LaSalle Australia, the country's largest commercial property services firm, as position he held for 13 years.
What they said: "I am proud of the growth and success of the Charter Hall business during my time as chair and have every confidence that under Stephen's leadership, the board and executive team will continue to create value and generate superior returns for Charter Hall's securityholders," Clarke said.
Charter Hall's managing director and group CEO David Harrison said: "I would like to commend David Clarke on his wise stewardship of the board over the last 10 years, which has helped the group deliver solid results for its customers and securityholders despite periods of volatility".
"We wish him well in his future board roles and thank him earnestly for the great contribution to Charter Hall's customers, its people and its culture," he said.
The source: ASX announcement
