Lendlease names John Gillam as new chair
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The news: Property developer Lendlease has appointed former Bunnings CEO John Gillam as its incoming chair to replace the retiring Michael Ullmer.
The numbers: Gillam will join the Lendlease board immediately, and start his role as chair on 15 November at the company's annual general meeting. Current chair Ullmer will step down following AGM.
The context: Lendlease said Gillam’s appointment follows a comprehensive chair succession process that was started earlier this year and was conducted with the support of a leading board advisory firm.
Gillam was the CEO of Bunnings Group from 2004 to 2016, and has also been chair of CSR. He currently serves aschair of Nufarm Limited, the VetPartners Group as well as a director of the Clontarf Foundation.
Lendlease has been under pressure from shareholders to boost returns from its sprawling international holdings and focus on the Australian business.
The company announced asset sales, including its US and UK construction operations, its life sciences interests in Asia as well as 12 Australian communities projects to a consortium of Stockland and Supalai Australia. However, the competitions regulator has delayed making its approval decision of the sale due to preliminary concerns.
The source: ASX announcement
