- The GPT Group (GPT) CEO and Managing Director Bob Johnston is set to retire at the end of the year, stepping down from the role after seven years in charge
- GPT Chairman Vickki McFadden said Mr Johnston’s leadership saw the company experience “significant” growth and put GPT in a position for continued success
- The company has called on executive search advisory firm Russell Reynolds to assist in the selection process for a new CEO and MD
- Mr Johnston says he remains committed to aiding a smooth transition process
- GPT shares are trading at $4.51 at 1:43 pm AEDT
The GPT Group (GPT) has announced that CEO and Managing Director Bob Johnston will step down from the role at the end of the year, following seven years in charge.
The company has called on leading executive search and leadership advisory firm Russell Reynolds to assist with its selection process for a new leader.
GPT Chairman Vickki McFadden praised Mr Johnston for his commitment and leadership of the company throughout his tenure.
“Bob has made an outstanding contribution to GPT, successfully leading it through a period of significant growth and designing and implementing changes to strategy, structure and portfolio mix that has positioned the group for continued success,” Ms McFadden said.
“The board has appointed Russell Reynolds to assist with the selection process that will consider both internal and external candidates to ensure the right leadership to execute GPT’s strategy and build on its success.”
Ms McFadden said the company would also benefit from Mr Johnston’s leadership in appointing a new CEO and Managing Director.
“With Bob’s leadership during the selection process, GPT will maintain its focus on creating value for security holders and provide continuity for our investors, employees and customers,” she said.
Mr Johnston said it was the right time to step away given the company’s strong position.
“I know that GPT is in a strong position, and I am proud of what we have accomplished for our customers, investors, employees, security holders and the industry,” he said.
The outgoing Mr Johnston said he remained committed to aiding a smooth transition process in appointing the next CEO and Managing Director.
GPT shares were trading at $4.51 at 1:43 pm AEDT.