Russell Proutt Resigns as CFO of Charter Hall to Join GPT Group as CEO

The GPT Group has announced the appointment of Russell Proutt as its new Chief Executive Officer and Managing Director, succeeding the retiring CEO, Bob Johnston, who had previously announced his retirement earlier this year.

Proutt brings a wealth of experience with over three decades of global leadership in commercial property markets, funds management, mergers & acquisitions, and finance. He most recently served as the Chief Financial Officer at Charter Hall since 2017. Charter Hall officially announced his resignation on September 25. Before his tenure at Charter Hall, Proutt spent 12 years with Brookfield Asset Management, where he held the position of Managing Partner, initially based in Canada and later in Australia. During his time at Brookfield, he worked extensively in the property and infrastructure sectors across the Asia region.

GPT’s Chairman, Vickki McFadden, expressed, “On behalf of the Board, we are delighted to announce the appointment of Russell as CEO of GPT. The Board conducted an extensive selection process and is confident Russell has the leadership capability, strategic insight, and track record to lead GPT through its next phase of growth and will bring a strong focus on long-term value creation for investors.”

Russell Proutt commented on his appointment, stating, “It is a privilege to be appointed as CEO of GPT, a leader in the Australian property industry. GPT has a proud history and an established platform with $32 billion of assets under management. There is an exciting future ahead for GPT, and I am committed to working with the Board, Leadership Team, employees, and stakeholders to continue to position the business to create long-term value for security holders.”

Johnston also remarked on his retirement, saying, “GPT has a strong team of experienced and talented people and an enviable culture that seeks to make a positive impact for people, place, and the planet while delivering long-term value for security holders. It has been an honor and privilege to have been the CEO of GPT for the past eight years, and I would like to congratulate Russell on his appointment as CEO. I am confident in the future of GPT under Russell’s new leadership.”

Proutt is expected to start his role at GPT no later than March 25, 2024. Johnston will continue as CEO until Proutt assumes his position to ensure a smooth transition.

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