Redefine Properties has announced that its Chief Operating Officer, David Rice will retire on 31 August 2020, after more than a decade of service.
A veteran with over thirty years of experience in the property sector, Rice joined Redefine in 2009, becoming its COO in 2011. His current responsibilities include all aspects of asset management and general administration of the property portfolio.
Rice, a senior member of the executive team, has also been responsible for helping drive leasing and asset improvement goals for the company. Prior to this, he was the Managing Director of ApexHi Properties Limited from 2006 until the merger of Redefine, ApexHi and Madison Property Fund Managers Holdings Limited.
To ensure business and operational continuity, and enable a structured handover, the search for his replacement has begun in earnest. Rice’s voluntary retirement date gives Redefine sufficient time to have the ideal candidate in office who pairs well with the company’s culture and future priorities.
“I have had the privilege of working alongside many incredibly talented people at Redefine, and I am proud of what we as a leadership team have accomplished together,” says Rice.
“Our unrelenting focus on building a domestic asset platform that sustains organic growth through continuous improvement, expansion and protection of our portfolio, as well as driving value from active asset management opportunities has positioned Redefine for success well into the future.”
The announcement clears the path for the succession processes to unfold as well as allow Rice to hand over responsibilities once the new COO has been appointed. The transitional period will help ensure that the transition is seamless. Redefine’s succession processes are formulated in advance of an executive’s departure to allow for a rigorous assessment of potential candidates.
“Over the past decade or so, David has been integral to Redefine’s success story. The board and the management team are grateful for his contributions and wish him well as he enjoys his retirement,” says Andrew Konig, CEO, Redefine Properties.
“A passionate advocate of using our spaces in a way that changes lives, David’s strong leadership has helped shape our portfolio across all our sectors. David will continue to work with key partners and the leadership team until his retirement in 2020. We value his dedication to Redefine and its future,”
“I am excited about Redefine’s future and committed to using the coming months to ensure a smooth transition, and to support this great team as they take the company forward,” concludes Rice.
“I have been fortunate during my career at Redefine to have worked with a highly motivated and professional team for whom I have great respect. I find reward in knowing that collectively, we have a built a solid foundation for the company’s future.”