Australand’s Bob Johnston and Westfield CFO Peter Allen among possible replacements for Stockland's Matthew Quinn

Australand managing director Bob Johnston and Westfield chief financial officer Peter Allen have been named among a lengthy list of candidates who could replace Stockland’s outgoing managing director and CEO, Matthew Quinn.

Quinn will step down from his 12 years in charge of Stockland in February.

The other candidates named by the Australian Financial Review and The Australian are Rod Leaver, CEO of Lend Lease Asia, former St George Bank CEO Paul Fegan, David Southon, co-founder and joint managing director of Charter Hall, veteran Macquarie banker Matthew Banks and the only internal candidate, John Schroder, current chief executive of commercial property at Stockland.

Stockland is due to make an announcement about Quinn’s replacement before the end of the year.

In terms of experience, Bob Johnston would be viewed by many as the most suitable candidate, with Australand operating a similar business model to Stockland with a diversified mix of residential and commercial property development activities.

Johnston has been managing director of Australand since 2007.

In a statement Stockland chairman Graham Bradley said the process to select and appoint a new managing director was progressing well with the board to “make an announcement in due course”.

The stock market appears unfazed over the uncertainty about leadership of Stockland.

Stockland’s market capitalisation has gained about $540 million since the start of the month to reach $7.9 billion.

It closed up 20¢ yesterday to $3.60.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer


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