Growthpoint appoints Centuria's Ross Lees as new CEO
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The news: ASX-listed REIT Growthpoint Properties Australia has appointed Centuria's head of funds management Ross Lees as its new CEO and managing director, succeeding the outgoing Timothy Collyer.
The number: Lees has led funds management at Centuria Capital Group since 2019, after stints at CIP Constructions, Dexus, LOGOS Group and Stockland.
In his role at Centuria, Lees oversaw $21 billion of listed, unlisted and institutional property funds under management, including ASX-listed Centuria Office REIT and Centuria Industrial REIT, as well as over 100 unlisted property funds.
Lees' appointment, which is expected to commence on 1 July, includes a fixed annual remuneration of $900,000. His contract features a maximum 117.5% short-term incentive opportunity and an 80% long-term incentive opportunity on his fixed remuneration.
The context: Growthpoint's outgoing managing director Timothy Collyer has led the company since 2009 and will continue until July. He announced his intention to retire in July 2023.
What they said: Growthpoint chair Andrew Fay said: "Under Ross' leadership, the board is confident [Growthpoint] will be well-positioned to continue the strong performance of its directly owned assets, build on its funds management growth plans and maximise value for security holders over the long term."
"The board conducted a comprehensive search process and believes Ross has outstanding leadership qualities and strategic capabilities, along with an exemplary track record in the Australian REIT and funds management sectors," he said.
The source: ASX announcement
