The drawn-out process to find a new CEO had cast some uncertainty over GPT which, like other listed real estate investment trusts, is battling headwinds in commercial property sector driven by higher interest rates.
ASX-listed property fund manager GPT Group has ended its long-running search for a new chief executive to replace outgoing Bob Johnston by snaring Russell Proutt, who has resigned as chief financial officer at rival Charter Hall for the new role.
Mr Proutt, who has been Charter Hall’s chief financial officer for the past six years, will take over as chief executive and managing director at GPT no later than March 25 next year.
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