Charter Hall Retail REIT (ASX:CQR) appoints Ben Ellis as Fund Manager

• Charter Hall Retail REIT (CQR) appoints Ben Ellis as Retail CEO and CQR Fund Manager after Greg Chubb resigns
• Ben Ellis has worked in various roles on the CQR portfolio for the past 21 years
• In his most recent role, he was Head of Transactions across the company’s property platform, overseeing $25 billion of gross transactions over the last three years
• Greg Chubb will leave in order to take up a senior role at Hong Kong listed Link REIT
• Shares closed 0.24 per cent down today at $4.16 each

Charter Hall Retail REIT (CQR) has appointed Ben Ellis as Retail CEO and CQR Fund Manager after Greg Chubb resigned.

Ben Ellis has worked in various roles on the CQR portfolio for the past 21 years. He was initially responsible for Asset Management of the Australian portfolio, and then all aspects of the European Portfolio.

After this time, he became Head of Retail Wholesale where he managed wholesale partnerships between CQR and Telstra Super and Mercer.

In his most recent role, he was Head of Transactions across the company’s property platform, overseeing $25 billion of gross transactions over the last three years.

Mr Ellis will report to Group Managing Director and CEO David Harrison. He will replace Mr Chubb on the Group EXCO, and as executive director of the CQR Responsible Entity board, Charter Hall Retail Management.

“We are pleased to take advantage of the deep bench strength within Charter Hall to promote internally, with Ben having long term relationships with many of the people
working hard to drive value within the CQR portfolio, together with excellent tenant customer relationships,” Mr Harrison said.

“His very strong wholesale partner relationships will provide for a seamless transition. We
wish Greg well on his next career journey and thank him for his contribution.”

Greg Chubb resigned in order to take up a senior role at Hong Kong listed Link REIT.

The company also reiterated its expectations for FY22 earnings per unit to be no less than 28.2 cents per unit, representing growth of at least 3.3 per cent on FY21 earning per unit.

FY22 distributions per unit are reportedly expected to be no less than 24.3 cents per unit, representing growth of at least 3.8 per cent when compared to the previous year.

The company said it will report half yearly financial results on the February 23.

Shares closed 0.24 per cent down today at $4.16 each.