The head of Australian real estate firm Dexus will leave the position next year.
Chief executive Darren Steinberg will step down in 2024 after more than 11 years in the role.
Steinberg would continue in the role until his successor started and would work with the board to ensure a smooth transition, Dexus said, adding that the board had begun looking for his replacement.
Steinberg said the decision to leave the top job next year allowed time for continuity.
“Dexus has a team of experienced and talented people, and I will leave knowing that the business is in a strong position to continue to deliver long-term value,” he said.
“I am proud of everything we have achieved as a team for our investors, our customers and our people.”
Dexus chair Warwick Negus said Steinberg’s “commitment to excellence and innovation is impressive”.
“The high standard of governance you see in Dexus is a reflection of the attitudes of the board, chief executive and senior management over a long period of time,” he said.
“The board has been busy in 2023 with ongoing planning for succession and internal leadership development.
“We approach this decision with the benefit of a great deal of planning and will revert to security holders in the coming months after the conclusion of a formal global search when this important decision is finalised.”
