ALE Property Group has announced Guy Farrands as its new CEO, replacing incumbent CEO and Managing Director Andrew Wilkinson (pictured above).
Farrands joins ALE today as a consultant and will work with Wilkinson and the Board prior to Wilkinson stepping down, which is anticipated to take place in the first quarter of the 2021 financial year.
Farrands (below) is currently a non-executive director of Aspen Group and his most recent executive role was as CFO of Viva Energy REIT Limited until 31 March this year.
Robert Mactier, Chairman of ALE said: “We are delighted to have secured an executive with Guy’s extensive background and leadership experience in the property sector to lead ALE during its next period of growth.
“We are particularly grateful to Andrew for his very significant contribution to ALE over the many years he has been the Company’s CEO and Managing Director. Since Andrew advised the Board of his desire to step down he has continued to work in a very diligent, measured and effective manner for the benefit of ALE and its security holders.
“As we would all expect of Andrew he has also assured us that he will remain very accessible, available and committed to support Guy and the Board during the transition period.”
Farrands added: “I am enthusiastic about joining ALE Property Group and building on the very solid foundations of the business. This is undoubtedly a pivotal moment in the history of the group with the imminent completion of the 2018 rent determination processes establishing the framework for the group to realise its significant future growth potential.
“I look forward to working alongside Andrew and the Board during the planned transition period.”
ALE added that it expects that Farrands will make a valuable contribution to ALE with the experience and perspectives he has gained during an extensive executive career, spanning a range of leadership and governance roles in the property sector.