In the end, complexity felled the Lendlease empire
Lendlease was globally recognised for engineering excellence, its ability to build thriving community spaces, and its nurturing of many leading CEOs. Its diminution is instructive as well.
It would be unfair to lay the sole blame for the $3.8 billion value destruction at Lendlease Group over the past 10 years at the feet of the dozen directors who sat on the board.
Non-executive directors do not run companies, nor should they be held responsible for the unavoidable cyclical movements that have plagued the global property development industry.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
