PROPERTY VETERAN STEPS DOWN AFTER 12 YEARS ON THE JOB

Written on the 27 September 2012

PROPERTY VETERAN STEPS DOWN AFTER 12 YEARS ON THE JOB

LONG-TIME Villa World (VLW) managing director John Potter (pictured) today announced his resignation from the ASX-listed property developer.

The industry veteran has spent more than 12 years on the board of VLW, which was formerly known as GEO Property Group.

He will be succeeded by executive chairman Craig Treasure, the former director of Sunland Group with 25 years’ experience in property development. Treasure has been with the company since February 2012.

Potter says he will pursue his own business interests after his retirement from VLW comes into effect on October 5.

“While not an easy decision given the growth potential of VLW’s business, with the substantial property expertise Craig Treasure brings to the company combined with VLW’s strong management team, I believe the company is in good hands to enable me to step aside and focus on my own personal business interests,” he says in a written statement.

Potter led VLW from 2000 to 2003, and moved to a non-executive director role until March 11, before taking the managing director role.

The company says he will not receive any termination or retirement benefits.

VLW shares this afternoon increased by almost 1 per cent to 78 cents per unit.


Latest News

LOSSES MOUNT AT SLATER AND GORDON

SLATER and Gordon's losses continue to mount following its disastrous entry in to the UK market. The compa...

NVC PLAYS A DIFFERENT GAME, AND WINS

AS its profits rise, National Veterinary Care's (ASX: NVL) focus on training over retail is proving to be a wi...

SUPERLOOP $2M LOSS DOES LITTLE TO KILL SLATTERY'S CONFIDENCE

BEVAN Slattery (pictured) is optimistic that Superloop's (ASX: SLC) financial position is promising, despite t...

RAJ NARAN TO SUCCEED GREG KILMISTER AS ALS BOSS

GREG Kilmister (pictured) will retire as MD and CEO of ALS Limited (ASX: ALQ) after 36 years with the company and 12 ...

Related News

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter