Its a Dangerous Time to Be a CEO With Big Seven Month and Seven Week Drops in Share Prices
The sub-prime credit crisis has taken a big toll on the property sector, and with the CEOs of the biggest operators. Below are the updated share / unit prices from our June 30 chart just seven weeks ago, followed by a list of CEOs that have...
The sub-prime credit crisis has taken a big toll on the property sector, and with the CEOs of the biggest operators. Below are the updated share / unit prices from our June 30 chart just seven weeks ago, followed by a list of CEOs that have reviewed their positions.
*TABLE
Bectons CEO Hamish Macdonald departs after 15 years with the company.
Babcock & Brown CEO Phil Green stands down as CEO of the parent company to Babcock & Brown Communities. Robert Topfer, who served as the B&B director on the board of BBC, has also stepped down from his executive role. He was the prime architect for the buyout of Primelife and transformation into BBC. No mention yet of John Martin, CEO of BBC.
Lend Leases CEO Greg Clarke remains in his position while the board openly looks for a successor. He has been there seven years.
Prime Trusts Bill Lewski ceased being CEO last month after he was bought out by Kidder Communities, but remains a consultant behind the scenes.
Who will be next?
*FKPs price reflects the takeover price of $5 offered by Lend Lease in June and that officially still stands. But with Lend Leases CEO departing and the decline in price back to $4.16, it may be some time before they reignite the bid, if ever.
