FKP parent company to Aveo is tipped to announce next week the pending departure of its CEO, Peter Brown, following the declining FKP listed unit trust price which is 66 per cent lower than net tangible asset backing. His salary of $2.3 million plus $675,000 bonus, given the slide in performance, is also a contention.
There is already rumour of a well known executive that will be his replacement.
Aveo is also up for a possible grab. FKP has announced a review to see if it can split out the retirement arm as a separate business to FKP to release cash. Stockland owns 14.5% of Aveo and has a first option to buy.
Opinion
Retirement villages have Canberra’s attention – now the sector must prove its value
Three years after Daniel Gannon took the reins of the Retirement Living Council (RLC), the sector has achieved something his predecessor Ben Myers was never able to: national recognition in Canberra. This is just the fist step. Retirement villages now need to capitalise on this moment. Here’s how.
