Ooi Eng-Peng, chief executive officer for Asia at ASX-listed real estate firm Lend Lease, is to leave his position. He is to be replaced with Rod Leaver, currently the firm’s CEO for Australia, effective 1 April.
Ooi told PERE he was planning to take between six and 12 months away before seeking another position although when he does return, he would look to take a role focused on the ‘capital side of real estate’.
He said: “Now is as good a time as ever to leave. The business is in stable and good shape so it's fine to hand over to Rod to take over. I have been getting a lot of calls [with regards a new job] but I don’t want to jump straight into something.”
“I’ll definitely stay in Asia though as that is where the action is,” he said.
In an announcement, Lend Lease group chief executive officer and managing director Steve McCann said: “Eng has played a key role in strengthening our operating platform in Asia in recent years and I would like to thank him for his outstanding 30 year contribution to Lend Lease. We wish him every success in his future endeavours.”
Lend Lease said Ooi’s replacement, Leaver, had “broad expertise across the property sector and will drive the growth of the integrated model in this key market, particularly the investment management platform.”
Leaver’s position as CEO for the Australian business will in turn go to Mark Menhinnitt, previously group head of infrastructure development. Menhinnitt is also a long-serving Lend Lease employee and has held numerous positions including global CEO of its project management and construction business.
Lend Lease has also made a string of other senior appointments including Andrew Wilson as managing director of its development team from Laing O’Rourke where he was CEO of its Australia business.
In addition to development and real estate services, the firm operates a series of real estate investment funds including a series of retail and institutional investor funds in Australia and Asia.