RICHARD Sheppard will retire from his position as director and chair of Dexus Funds Management at the upcoming AGM.
Warwick Negus will become the chair effective 27 October 2022.
“Since my appointment as a director nearly 11 years ago, Dexus has refocused its strategy, divesting its exposure to offshore properties and reinvesting in high quality assets located in Australia’s major cities where we have strong expertise and high quality customer relationships. Today Dexus manages over $44 billion of assets across a diverse pool of vehicles in traditional real estate sectors as well as healthcare, real estate securities and opportunities funds.
“Succession planning has been an important focus for the board for some time and I am pleased that Warwick Negus will succeed me as chair. Dexus is in capable hands under its board and management team as it embarks on its next phase of growth, underpinned by the acquisition of the AMP Capital real estate and domestic infrastructure platform which will add a further circa $18 billion of assets to the Dexus platform and expand Dexus’ offer in the growing infrastructure sector. I would like to acknowledge the support I have received from my fellow directors and from Darren Steinberg and his team during my tenure as chair,” Sheppard said.
Negus has been a member of the DXFM Board since January 2021. He brings extensive funds management, finance and property industry experience, his most recent executive roles include CEO of Colonial First State Global Asset Management, CEO of 452 Capital, and Goldman Sachs managing director in Australia, London and Singapore.
He is chair of Pengana Capital Group and a non-executive director of Washington H. Soul Pattinson and Bank of Queensland.
“Richard Sheppard leaves Dexus well positioned for the future, and we thank him for his significant contribution. I look forward to leading the board as it commences its next phase of growth.” Negus said.
