The CFO of listed property group Lendlease (ASX: LLC) Tarun Gupta (pictured) has announced his resignation after accepting the top job at competitor Stockland (ASX: SGP).
He will be replaced on an interim basis by group deputy chief financial officer Frank Krile while an internal and external candidate search is conducted.
"Tarun has made an outstanding contribution to Lendlease during his 26 year tenure with the group," says Lendlease group CEO and managing director Steve McCann.
"I'd like to personally thank him for his long-term commitment to Lendlease, our people, clients and securityholders.
"Lendlease is proud of its continuing track record of developing top talent."
Gupta said he is proud of his long-term commitment to Lendlease.
"Having started at Lendlease as a graduate, I am grateful for the opportunities that I have been provided during my 26-year career with the group," he says.
"In particular, I'd like to personally thank Steve McCann for his leadership and guidance."
Gupta will join Stockland from 1 June 2021, succeeding Mark Steinert who has been in the top role since 2013.
"The Stockland board is delighted to welcome Tarun as our new managing director and chief executive officer," says Stockland chairman Tom Pockett.
"Tarun has deep commercial experience and a proven track record in leading and managing large property operations.
"We know that he is highly regarded in the industry and has a strong reputation among property investors."
Gupta will receive fixed remuneration of $1.5 million per annum, commensurate with Steinert's former salary.
Business News Australia