Australian real estate investment trust GPT Group has appointed current managing director of Frasers Australand Bob Johnston to be the firm's new chief executive, replacing outgoing boss Michael Cameron.
Mr Johnston brings 28 years of experience as a property executive involved in the investment, development, project management and construction of property in Asia, the UK and the US, including stints with various Lend Lease arms.
GPT chairman Rob Ferguson said Mr Johnston was the right choice to lead GPT as it looks to capitalise on its strong position in the AREIT sector.
GPT has become one of the largest owners of office properties on the east coast of Australia.
Outgoing chief Michael Cameron flagged his departure in April for the new post of Suncorp managing director.
Mr Johnston will join GPT after his six month notice period with Frasers, no later than around the end of January, and will take home a fixed salary of $1.4 million.