Frasers Centrepoint picks new chief for Australian operations

FRASERS Centrepoint, which recently acquired Australand for A$2.6 billion (S$2.9 billion), has picked Bob Johnston as chief executive of the combined Frasers Property Australia and Australand businesses.

Guy Pahor will step down as chief executive of Frasers Property Australia and will remain with the group in an advisory capacity, said the firm in an announcement.

Australand became a wholly owned subsidiary of Frasers Centrepoint following the group's acquisition completed at end-October.

Australand has three operating divisions - residential, commercial & industrial and investment properties - and has over 500 employees across Sydney, Melbourne, Perth, Adelaide and south-east Queensland.