Stockland confirms UBS banker Mark Steinert as new managing director

Stockland has confirmed the appointment of UBS investment banker Mark Steinert as the property developer's next managing director and CEO, replacing Matthew Quinn.

The appointment was made by Stockland chairman Graham Bradley, who said it was a unanimous board decision.

Steinert had beeen tipped as new CEO by The Australian's Bridget Carter just over a week ago.

Steinert will join Stockland on January 14, succeeding Quinn, who has been managing director since 2000.

Quinn will remain in his position until January 11 "and will provide counsel and support as requested for three months from his end date to ensure a smooth transition to new leadership".

“The Stockland board is delighted to welcome Mark as our new managing director and CEO. Mark has a track record of successfully managing large business operations, an extensive background in the property sector and a strong reputation among property investors," says Bradley.

“Mark has a track record of successfully managing large business operations, an extensive background in the property sector and a strong reputation among property investors," says Bradley. 

Steinert says he is “honoured and excited to take up this opportunity to lead a truly great Australian company”.

He will be only Stockland’s fourth managing director.

Steinert’s appointment was also supported by Quinn, who said the incoming managing director had the "right qualities to drive the company’s long-term success".