Property funds management group Charter Hall has moved to a single chief executive/managing director structure, with David Harrison stepping into the role.
Charter Hall has abandoned its leadership structure of two joint managing directors, with David Southon “electing to step down”, according to a statement by the group.
David Harrison will step up to be the sole chief executive and managing director of Charter Hall immediately, following a decision by the board and both joint managing directors (JMDs).
Charter Hall chair David Clarke said the board and both joint managing directors have been working towards transitioning to the new structure for the past nine months.
“Given the group’s significant growth, the work undertaken by the HMDs on building the leadership team through a number of key appointments and in positioning the business for the future, we believe now is the appropriate time to move to the single CEO/MD structure,” Mr Clarke said.
Mr Harrison said: "I feel privileged to be leading Charter Hall, a company that is in strong shape with leading positions across the office, retail, industrial and hospitality sectors as we look to capitalise on these positions and embark on our next phase of growth."
Mr Harrison will receive a fixed remuneration package of $1.3 million, which includes superannuation and any salary sacrifice items, said the statement.