Lifestyle Communities agrees terms for new exec chair
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The news: Property developer Lifestyle Communities has announced the key terms for its new executive chair David Blight, as it continues its search for a new chief executive.
The context: Blight, who was appointed chair of the company in September, assumed the role of executive chair this month and will maintain additional responsibilities until a new CEO is appointed.
He will be paid a monthly fee of $50,000, inclusive of superannuation, in addition to his existing board and committee fee. He will not participate in the company's incentive plans.
Lifestyle Communities said the search for its new CEO is under way, after its co-founder and managing director James Kelly retired last month.
Kelly setup the company 21 years ago and served as the company's managing director since it listed on the ASX in 2007.
The source: ASX announcement
