Centro's chief executives shy away from leadership position
Centro Properties Group is on the lookout for a new global chief executive, with current head Glenn Rufrano unwilling to continue and Centro Australia chief Tony Clarke opting out of a list of candidates for the position.
Both men’s contracts expire in February 2010.
Rufrano was appointed in January 2008 to steer the company through its debt problems, including more than $5 billion of debt owed to its Australian lenders and US private placement note holders, and an aggressive asset sales program.
“When I accepted the appointment in January 2008, it was to see Centro though a very difficult period of uncertainty. While my role as Centro’s chief executive was unexpected, it has been very fulfilling personally and professionally. I am pleased to say that the need for me to continue in this capacity has passed.”
Centro chairman Paul Cooper said Centro was grateful for Rufrano’s leadership and experience during a challenging period for the company.
Rufrano will remain in his position until a replacement is appointed.
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