Mirvac shake-up elevates industrial head Campbell Hanan

Development and investment group Mirvac is preparing a new phase by overhauling its senior ranks.

Campbell Hanan has been given a wider role after Mirvac reshuffled its senior executive ranks.

Property developer and investor Mirvac has given a pointer to its future leadership, with a major reshuffle in which office and industrial head Campbell Hanan will take on a wider responsibilities and two other senior executives will leave.

Mirvac’s chief financial officer and head of retail are exiting as part of the reorganisation that will see Mr Hanan also take on responsibility for shopping centres and the company’s big growth engine, build-to-rent apartments.

Mirvac will now combine its office, industrial, retail and build-to-rent operational businesses into one business, which he will lead, as head of commercial property, effective from the start of October.

At the same time long-serving chief investment officer Brett Draffen has also been given a bolstered portfolio in which he will be responsible for driving Mirvac further into mixed-use development.

Mr Draffen will continue as chief investment officer, but his role will expand to include oversight of Mirvac’s commercial and mixed-used developments.

The company has a multi-billion-dollar pipeline of projects, some of which have been fast-tracked in the wake of the coronavirus crisis, but they face tough conditions to get off the ground.

Mr Hanan, a former head of the Investa Office platform, had been recruited to Mirvac in 2016, and has led numerous office and industrial plays, two areas considered strengths for the company.

Mirvac, led by chief executive Susan Lloyd-Hurwitz, is coming through the coronavirus crisis by forging more deeply into build-to-rent apartments but has been hit by its exposure to shopping centres.

As part of the changes, chief financial officer Shane Gannon and head of retail Susan MacDonald, will exit the business. Mirvac will recruit a CFO after assessing both internal and external candidates and expects to fill the role by year end.

Mr Gannon will leave towards the end of 2020 and will help with a smooth transition to his successor. Ms MacDonald will also leave at year-end after heading the retail unit since 2014.