Tony Lombardo, currently group CEO of Australia's Lendlease Corp, will be group chief operating officer of Frasers Property with effect from Oct 1, with a focus on investment activities via Frasers Property Capital.
According to FPL, Lombardo has the mandate to drive "cross‑portfolio optimisation, enterprise-wide synergies and disciplined capital deployment."
In addition, Lombardo will help boost coordination across FPL's major platforms and key markets, including industrial and logistics, as well as its Australia and UK businesses.
"Tony’s leadership and expertise across strategy, finance, investments and capital management and operations will strengthen our leadership team and accelerate the execution of our strategic priorities," says FPL's group CEO Panote Sirivadhanabhakdi.
"His appointment will further enhance our execution capability, sharpen capital execution discipline and support the group’s continued growth across markets," he adds.
"Frasers Property has built a strong, diversified portfolio, underpinned by a clear strategy and long-term growth ambitions," says Lombardo.
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"I am excited to contribute to the next phase of the group’s strategic transformation by strengthening execution, deepening collaboration and unlocking sustainable value across the business," he adds.
Prior to Lendlease, Lombardo was with other companies such as GE Capital, GE Corporate and KPMG.
Frasers Property shares closed at $1 on March 6, down 0.5%.
