Growthpoint Properties Australia (GOZ) announces the intended retirement plans of Managing Director, Timothy Collyer, after more than 13 years in the role. Mr Collyer is expected to continue as Managing Director for 12 months until July 2024, allowing time for a smooth transition to his successor. A formal process to select Mr Collyer’s replacement has commenced and will include both internal and external candidates consistent with the Board approved succession plan.
GOZ Chairman, Andrew Fay, said “On behalf of the Board, I would like to thank Tim for his service, dedication, and leadership of Growthpoint. Tim has made an outstanding contribution to the business, its growth, the culture and reputation in the market as a leading ASX200 A-REIT. Tim will continue to work with our key stakeholders and deliver on the strategies we have set in place to maximise value for securityholders until he leaves.”
Mr Collyer said, “It has been a great honour and privilege to lead Growthpoint over an extended period and, whilst the decision was not an easy one, it is time to hand over to the next generation of leaders of the business. The growth of the business from a $650 million industrial fund to a diversified business with a $5.1 billion portfolio, through acquisitions, M&A and development, has been considerable and a great credit to the team.
“I am also proud of Growthpoint’s performance in ESG which continues to be highly rated by independent organisations. Growthpoint today has a clear strategy with a dominant A-grade metro office portfolio and quality industrial and logistics portfolio and growth plans for the recently acquired Fortius funds management business which has $1.9 billion in third party funds under management. With an experienced Board and management team, Growthpoint is well placed to move forward in the current market and with the transition to my successor.”