Monday 13th October 2014
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Kiwi Income Property Trust, the country's second largest property trust by market capitalisation, has appointed Gavin Parker as chief operating officer, while Stuart Tabuteau will become chief financial officer.
Parker takes on the newly created role, following an organisational review as it shifts to internal management after Commonwealth Bank of Australia sold the contract last December, the Auckland-based property investor said in a statement. Tabuteau will replace him in the chief financial officer role, having worked as the trust's financial controller over the past eight years.
Mark Luther has resigned as the company's general manager of development, ending 18 years with Kiwi Income, but will stay on as an advisor. The company will combine the responsibility of retail and office development and have begun looking for a replacement.
“Following the internalisation of the trust’s management, we have undertaken a review to ensure we are optimally configured, with the right organisational design, accountabilities and capabilities to deliver on our corporate objective, goals and strategy," chief executive Chris Gudgeon said.
Shares of Kiwi Income fell 0.4 percent to $1.19 and have gained 11 percent since the start of the year.
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