It's a case of musical chairs in the real estate investment trust sector with a number of chief executives changing places.
DEXUS chief operating officer Craig Mitchell has resigned to take up the head role at Melbourne-based developer Grocon. He will replace Carolyn Viney who has left the group after 13 years to pursue other interests.
Mr Mitchell's move comes days after DEXUS Property was thwarted in its takeover of the listed Investa Office Fund, although his departure is not related. With his knowledge of the property sector, Mr Mitchell's name has popped up several times as a candidate for chief executive roles, the most recent being for GPT Group, which went to Bob Johnston.
DEXUS chief executive Darren Steinberg thanked Mr Mitchell for his "significant contribution to the group over more than eight years".
"He leaves DEXUS in a strong position and we wish him all the best in his new leadership role," Mr Steinberg said.
Having worked in a number of roles, Mr Mitchell was appointed to the DEXUS board as an executive director in February 2013.
In another twist to the Investa saga, the well-respected fund manager of the listed Investa Office Fund, Ming Long, has also resigned.
Investa Office Fund unitholders voted last Friday to retain the current manager, Investa Office Management, but in doing so, management changes at the fund had been expected.
Investa chief executive Jonathan Callaghan said Ms Long had made an "outstanding contribution to the business during the past 11 years, more recently as joint managing director and finance director for Investa Property Group and as IOF fund manager since 2014".
"We thank Ming for her leadership and contribution to Investa and wish her all the best for her future career."
Ms Long said it had been a "privilege to be IOF's fund manager and leading a team that has delivered consistently strong unitholder returns over the period of my appointment".
"After 11 years at Investa, I have decided it is the most appropriate time to pursue other opportunities. I wish IOF and Investa's staff every success for the future."
Executive recruitment firm Carmichael Fisher has been retained to find a suitable candidate to replace Ms Long.
Jason Leong, Investa's chief operating officer, will be the acting IOF fund manager until a replacement has been found.
