Kiwi Property chair Mark Ford will step down from the company's board at its annual meeting next year after holding the position for 13 years.
The company told the New Zealand stock exchange (NZX) that Ford would be succeeded by current director Simon Shakesheff.
Kiwi Property said Ford had overseen many of its “most significant strategic initiatives”, including the delivery of ASB North Wharf and buying a 50% interest in The Base, the largest shopping centre in NZ, which is just out of Hamilton.
“Kiwi Property is a fantastic business and I’m proud of what we have achieved,” Ford said in a statement.
He is also a non-executive director for Dexus Property Group and a non-executive director for the manager for China Commercial Trust and Prime Property Fund Asia GP.
Shakesheff said Ford had made a “remarkable” contribution to Kiwi Property for more than a decade, and under his stewardship the company had evolved from a retail and office landlord into a “creator of connected mixed-use communities”.
“This is already clearly apparent at Sylvia Park, with assets such as LynnMall and Drury set to follow suit,” he said.
The process to recruit a new Kiwi Property director will start straight away, the company said. An announcement on the successful candidate would be made in due course.
Shares of Kiwi Property were recently up 1.1% at 93.5 cents.
