Vicinity elevates retail property executive Peter Huddle to acting chief executive

Vicinity needs to fill Grant Kelley’s position and the elevation of Peter Huddle as acting CEO could be an indication of the board’s thought process.

Vicinity Centres acting chief executive Peter Huddle. Picture: John Feder

Veteran retail property executive Peter Huddle is firming as favourite to run Vicinity Centres after being appointed acting chief executive of the mall giant.

The shopping centre company’s incumbent chief, Grant Kelley, announced his departure last month and Mr Huddle will now take up the interim position.

Mr Kelley ran the company for more than five years and had flagged he would retire from Vicinity by June 30 next year, to facilitate a smooth and co-ordinated handover.

But Mr Huddle‘s appointment, to take effect after the annual meeting on Wednesday, indicates that he is the favoured internal candidate for the role, with expectations he will also see off outside contenders.

Mr Huddle is now chief operating officer and will face off against a wide field for the job of running the company which co-owns Melbourne’s landmark Chadstone Shopping Centre.

Executive search firm Egon Zehnder is undertaking the chief executive hunt comprising internal and external candidates from Australia and internationally.

Prior to joining Vicinity, Mr Huddle held senior leadership positions within Westfield in Australia, Brazil and the US. He joined Vicinity in March 2019. Vicinity chairman Trevor Gerber said the move allows Mr Kelley’s retirement to be brought forward.

Vicinity shares fell 1.8 per cent, or 3.5c, on Tuesday to close trade at $1.92. They have risen 8.2 per cent since December 31.