Mirvac Group ("Mirvac") [ASX: MGR] has announced a restructure to its Executive Leadership Team.
The key change is the creation of a Chief Investment Officer (“CIO”). Brett Draffen has been appointed to this position and will assume responsibility for Office, Industrial, Retail, Residential Development and Commercial Development. As a result of this change, the positions of CEO Development and CEO Investment will no longer exist.
Andrew Butler will assume the role of Group Executive Office & Industrial and will report to the CIO, along with Group Executive Retail, Susan MacDonald, Group Executive Residential Development, John Carfi and Group Executive Commercial Development, David Rolls. These positions will also become part of the Executive Leadership Team.
Ben Hindmarsh will become Group Executive Office and Industrial Operations reporting to Andrew Butler and Stuart Penklis will continue as Group Executive Industrial Development reporting to David Rolls.
CEO and Managing Director Susan Lloyd-Hurwitz commented, “As our level of activity in deploying active and passive capital continues to increase, we have created a Chief Investment Officer role to ensure we continue to allocate capital in a focused and disciplined manner.
“The change to the Executive Leadership Team maximises the expertise of our senior executives and creates a more efficient and effective management structure.”
All changes will become effective on 1 July 2014.