PERTH: Peet Limited (ASX:PPC) announced Thursday that Managing Director and CEO Brendan Gore will step down on July 1 after 20 years at the helm.
Gore, who led the residential land development company through key acquisitions and market expansions, said the timing was right for a transition. “With Peet in a strong position, I look forward to pursuing other interests,” he said.
During Gore’s tenure, Peet completed significant transactions, including acquisitions of CIC Australia and the University of Canberra development, and established a funds management business. The company also entered joint ventures with state governments and diversified its capital structure.
Peet Chairman Greg Wall praised Gore’s leadership, citing his strategic mindset and the trusted relationships he built with shareholders and stakeholders. “Brendan’s impact on Peet cannot be underestimated. He leaves the company in the strongest financial position it has ever been,” Wall said.
The company also announced that Board member Trevor Allen will retire following the release of Peet’s FY25 results after 13 years of service.
Peet’s Chief Financial Officer Brett Fullarton will serve as interim CEO while the Board searches for a successor. A strategic review is planned amid shareholder requests for reassessment of the company’s direction.