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McGrath Limited has announced the appointment of its new chief executive, following the formation of a new board and a rigorous selection process for the role.
Former McGrath executive Geoff Lucas has been appointed to the role.
Executive director John McGrath said that he is thrilled with the move.
“I am delighted to welcome Geoff back to the company, as he was instrumental in building McGrath over eight years to 2016 to now have 95 offices and an industry‐leading team,”Mr McGrath said.
“Geoff has an intimate knowledge of property and the McGrath business as well as a strong rapport with our agents, franchise partners and many industry participants.
“He also has a track record of helping us build our earnings when he was chief operating officer.
“Geoff, myself and the new leadership team will work in harmony and closely to stabilise and return the company to growth in an effort to restore shareholder value.”
Mr Lucas said that he is equally as pleased.
“I am excited to be re‐joining industry-leader McGrath and working closely with John and the 2,000-member team across Australia in delivering exceptional customer service and results,” Mr Lucas said.
“The McGrath team has the highest concentration of real estate talent in Australia, and I’m excited to again lead a harmonised team to turn McGrath around after a challenging period for the company and the industry.”
Mr Lucas was COO of McGrath for eight years from 2008 to 2016, working alongside John McGrath in driving the company’s growth across the eastern seaboard as well as its transition from private company to listing.
His most recent position was COO of Sonoma Bakery Group.
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