Federation Centres will be led by former Novion Property boss Angus McNaughton following completion of the companies' merger in June.
Mr McNaughton will replace outgoing chief executive Steven Sewell immediately, in the wake of the $11 billion merger, which will see the group change its name to Vicinity Centres pending shareholder approval in October. The combined group boasts real estate investment assets of $22bn.
Earlier expectations were for Mr Sewell to remain chief executive of the new group, which is owned 64 per cent by Novion shareholders and 36 per cent by investors in Federation Centres.
But Federation Centres chairman Peter Hay -- who formerly led the board at Novion - said Mr McNaughton would be tasked with the full implementation of the merger.
The chairman said Mr Sewell -- who had been in the role since February 2012 -- was a "driving force" behind the merger.
Federation Centres also said it was on track with the synergy and operational benefits outlined in merger documents. The company will announce its annual results on August 19.
Federation Centres shares closed 4.33 per cent lower at $2.87 against a benchmark index fall of 0.35 per cent.