Growthpoint Properties Australia (Growthpoint or the Group) today announces that Geoff Tomlinson will retire from his position as Director and Chair of the Board of Growthpoint Properties Australia Limited, effective 1 March 2023.
Andrew Fay will join the Growthpoint Board as an independent non-executive director, effective 1 December 2022. Following a transitional period to allow for an orderly succession, Mr Fay will become Chair of the Board on Mr Tomlinson's retirement.
The Board would like to thank Mr Tomlinson for his leadership and significant contribution as a Director since September 2013 and as Board Chair since July 2014.
Commenting on his retirement, Geoff Tomlinson said, “Board renewal and succession has been a focus of the Board for the past 12 months, in anticipation of my intended retirement as announced at the 2021 Annual General Meeting. Further planned Board renewal and succession will ensure the Board meets its 30% gender diversity target in FY23 and enable an orderly transition of Directors as part of the Board renewal process.
“I’m pleased that Andrew Fay will succeed me as Chair. He brings valuable experience from his directorships across numerous ASX listed entities and extensive experience of funds and investment management, including real estate.
“On behalf of the Board, I would also like to thank Francois Marais for his contribution and commitment to the Board. As previously announced,1 Francois will step down from the Board at the conclusion of the 2022 Annual General Meeting. Francois joined the Board in 2009 and as Director, and Chair of the Group’s majority securityholder Growthpoint Properties Limited, has supported the growth of the Group and made a significant contribution to the Board and the Committees on which he has served over his tenure. We wish him the very best for the future.
“It has been a privilege to Chair the Board and I’d like to thank my fellow Directors, past and present, for their support. Over the period I have served on the Board, Growthpoint has entered the ASX/S&P200 Index, grown its directly owned property portfolio from over $2.0 billion to over $5.0 billion and made several strategic acquisitions including the recent acquisition of Fortius Funds Management, adding $1.9 billion funds under management to the Group. I am confident that Growthpoint continues to be well positioned to provide securityholders with sustainable income returns and capital appreciation over the long term and that Andrew is well placed to Chair the Group into the future.”
Commenting on his appointment, Andrew Fay said, “I am honoured to have been asked to join and Chair Growthpoint’s Board and look forward to leading the Board as it continues to build on the success and growth of the Group.”
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