Vicinity’s chief operating officer Peter Huddle has firmed as a strong internal candidate to take over the top job at ASX-listed Vicinity Centres after the shopping mall landlord announced chief executive and managing director Grant Kelley would step down in June next year.

Mr Kelley’s departure will be the latest high-profile exit from the country’s major property companies, making way for a new generation of leaders who must grapple with the challenges of rising interest rates, higher inflation and economic uncertainty.