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Dexus names new chief

By Jessica Penny
3 minute read

After 12 years at the helm of the firm, Dexus has announced Darren Steinberg’s successor.

Dexus has announced the appointment of Ross Du Vernet as its next chief executive officer (CEO) and executive director.

Mr Du Vernet has been a member of the executive leadership team since he joined Dexus in 2012, and currently serves as its chief investment officer.

He has more than 20 years of extensive experience in the property industry with a background in corporate transactions, strategy, development and funds management in Australia and abroad.

Until he takes up the role in March 2024, current CEO Darren Steinberg will continue in this capacity up to that time. In the meantime, Mr Steinberg will work closely with the board and his successor to ensure a smooth transition.

Ross Du Vernet said: “It is a privilege to be appointed to the role of CEO. Dexus is at an exciting stage in its evolution, with strong foundations and a unique set of capabilities in the platform.”

“Darren is handing over Dexus in a strong position and I am committed to working with our clients, the board and wider Dexus team as we deliver long-term value for investors and work towards our vision of being globally recognised as Australasia’s leading real asset manager,” he continued.

Commenting on the transition, Dexus chair Warwick Negus added: “On behalf of the board we are delighted to appoint Ross as the next CEO of Dexus.”

“The board has spent much of 2023 planning for succession, which also included executing a global search, and is confident that alongside our highly regarded executive leadership team, Ross will succeed in leading Dexus through its next phase of growth,” he continued.

According to Mr Negus, Mr Du Vernet has made a significant contribution to the delivery of the firm’s strategy.

“The combination of his deep property investment expertise, track record of setting and delivering on strategy and his knowledge of the Dexus business makes Ross the ideal successor.”

Mr Negus further thanked Mr Steinberg for his 12-year tenure as CEO, helping grow Dexus’ total funds under management from $12.9 billion to $61 billion.

Mr Steinberg added: “Dexus has a strong team of experienced and high performing people, and I will miss working with them every day. One of my proudest achievements is building a talented team of people who I have seen flourish at Dexus.”

“It has been an honour to have been the CEO of Dexus, and I would like to congratulate Ross on his appointment as CEO. With Dexus positioned as a leading Australasian real asset manager, I am confident in the future under Ross’ leadership.”