Leadership changes at Frasers Property Australia from Oct 1

FRASERS Property on Wednesday announced various leadership changes for its Australia business, effective Oct 1, 2020. These appointments come as part of a planned succession, the company said.

Anthony Boyd who is chief financial officer (CFO) at Frasers Property Australia, will be appointed as chief executive officer (CEO).

He will take over the reins from Rod Fehring, who will remain on the board of directors of Frasers Property Australia as the newly appointed executive chairman.

Mr Fehring will continue to chair the management boards of Frasers Property Industrial and Frasers Property UK. He will also continue to provide oversight of Frasers Logistics & Commercial Trust (FLCT) by remaining on the board of FLCT's manager.

"Leading Frasers Property Australia has been an honour and privilege and I look forward to supporting Frasers Property Group's continual growth in a different capacity," said Mr Fehring.

Meanwhile, Mr Fehring will succeed Olivier Lim, who will step down as non-executive chairman of Frasers Property Australia and remain as adviser to the group.

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Said Panote Sirivadhanabhakdi, group CEO of Frasers Property: "Today's announcement is a further evolution of Frasers Property that highlights our bench strength. Rod has very ably led our Australian business over the last five years.

"He has played a critical part in the formation of our integrated industrial and logistics platform, which includes asset portfolios in Australia and Europe and provides the asset management services to the newly merged FLCT."

Mr Sirivadhanabhakdi added that over the last two years, he has discussed with Mr Fehring about the evolution of Frasers Property's platforms and of his role.

Mr Boyd, in his new position as CEO of Frasers Property Australia, will be responsible for driving the residential, commercial, retail and mixed-use development initiatives in Australia. He will be reporting directly to Mr Sirivadhanabhakdi.

Mr Boyd has been with Frasers Property Australia since May 2005. He held senior finance and residential business unit roles prior to being appointed CFO in June last year.

As at 11.11am on Wednesday, shares in Frasers Property were trading at S$1.20, up S$0.01 or 0.8 per cent, while units in FLCT were trading at S$1.03, down S$0.01 or 1 per cent.