Stockland will separate the retirement business from the residential division, which had been led for the past nine years by the outgoing head, Denis Hickey, the company said today.
The retirement and residential divisions were being split as a result of the departure of Mr Hickey, who is chief executive of the residential business till he leaves in early July.
"We are taking this opportunity to continue the reorganisation and simplification of our business by splitting Residential in two," Stockland chief executive Matthew Quinn said.
"In particular, this will ensure a greater focus on the Retirement Living business which remains one of our key growth platforms."
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.
