After 12 years at the helm, Lendlease chief executive Steve McCann has announced he will retire at the end of May.
Chairman Michael Ullmer said the board had appointed CEO for Lendlease Asia Tony Lombardo as McCann’s successor.
McCann will retire from the Board following a 16-year career with the group, in which time Ullmer said he had spearheaded the transformation of the business “focusing on our integrated business model in targeted global gateway cities”.
“Under Steve’s leadership, the group’s global development pipeline has grown to more than $110 billion including twenty-two major urbanisation projects across ten of the world’s most iconic cities,” Ullmer said.
“Lendlease is now recognised as a global leader in transforming major precincts into places people truly want to be. Steve’s passion, intellect and leadership as well as his unwavering commitment towards operating in a safe and sustainable way have left a powerful legacy.”
McCann’s retirement had been put on the backburner to help steer the business through the challenges of Covid.
“It has been a tremendous privilege to lead Lendlease for more than 12 years. I’d like to thank every one of our people around the world for their dedication in delivering our projects safely and sustainably on behalf of our customers, investment partners and the communities in which we operate,” McCann said.
“I am very pleased that the board has selected Tony as my successor. His appointment reinforces the outstanding bench strength we have built in senior management at Lendlease. I have worked closely with Tony for 13 years and am confident in the future of Lendlease in his hands.”
Lombardo will take the reins in May upon McCann’s retirement as the group pursues a revised strategy focusing on leveraging its position in the development and delivery of large-scale, mixed-use urbanisation projects.
Ullmer said Lombardo’s experience as chief executive of Lendlease Asia as well as a period in the CFO position for the group made him “eminently qualified to lead Lendlease into the future”.