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.
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
