Lendlease’s Asia CEO Tony Lombardo has been appointed to succeed Steve McCann as group CEO and managing director in June.

Lombardo would commence in his new role as the group pursued its revised strategy focusing on leveraging its competitive edge in the development and delivery of large-scale, mixed-use urbanisation projects and growing the Investments platform, said Lendlease chairman Michael Ullmer.

Lendlease is planning to simplify its business, after exiting its troubled engineering and services business last year. It is looking to recycle capital from the sale of telecommunications, solar farms, services and retirement to focus on its development business.

Ullmer said Lombardo’s time as CEO Asia, and prior roles including group chief financial officer made him “eminently” qualified to lead Lendlease into the future.

McCann has run the Sydney-based company for more than 12 years. He has been credited for the group’s expansion offshore.

Ullmer said the onset of COVID-19 delayed McCann’s planned retirement as he led the group’s response to the pandemic. McCann will leave Lendlease at the end of May

McCann’s retirement follows the imminent departure of the group chief financial officer, Tarun Gupta, who is leaving to head up listed property firm Stockland in June.

Lendlease said the search for a new group CFO is well progressed with an announcement of an appointment expected in coming months.

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