Mainboard-listed Frasers Centrepoint, which recently acquired Australand for A$2.6 billion, announced on Monday that Australand's managing director Bob Johnston will lead the combined Frasers Property Australia and Australand businesses.
Guy Pahor will be stepping down as chief executive officer of Frasers Property Australia but will remain with the group in an advisory capacity.
Frasers Centrepoint had announced on 31 October the completion of its compulsory acquisition of Australand, now a wholly-owned subsidiary of the group.
Australand employs 500 staff in Australia across across its three operating divisions, namely residential, commercial & industrial and investment properties.
Frasers Centrepoint group chief executive officer, Lim Ee Seng said that Mr Pahor had steered the development of Frasers Property Australia through a critical phase and successfully executed on a number of the group's large, mixed-use urban regeneration projects. These include the iconic Central Park development in Sydney's southern CBD and Putney Hill, a medium density development located on the former 14 hectare Ryde Rehabilitation Hospital site.