The appointment follows the impending retirement of Stockland’s CFO and Finance Director, Hugh Thorburn, as announced at the Annual General Meeting.
Managing Director Matthew Quinn said he was pleased to have identified such a strong successor to Mr Thorburn.
“Tim is an experienced CFO and I look forward to him joining our executive team,” Mr Quinn said.
Mr Foster has over 25 years experience, with extensive financial markets, property and investment management expertise. An executive biography is attached. Mr Foster will commence with Stockland on 8 February 2010 and Mr Thorburn will retire at the end of February 2010, facilitating a smooth transition.
“Hugh has played a pivotal role at Stockland and I would like to thank him for his significant contribution over the past six years. We wish him every success in his future endeavours,”
EXECUTIVE BIOGRAPHY
Tim Foster
Chief Financial Officer
Tim Foster joins Stockland with 25 years of financial experience, including 15 years in the financial services industry. For the past 10 years he has held CFO roles in three major organisations including Colonial First State Investments, Challenger Financial Services and HBOS Australia.
In his most recent role at HBOS Australia, Mr Foster led the Corporate Services Division, managing over 400 people across five divisions including Finance, Legal, Program Management Office, Shared Services and Strategy. He was also the Chairman of the HBOSA Assets & Liabilities Committee and the HBOSA Learning Council.
With significant exposure to the property sector throughout his career, he was a Director of Colonial First State’s property trust and managed the property accounting team for the trust.
Mr Foster commenced his career with a major global accounting firm in the UK. He has a Dual Honours degree in Economics, Accounting and Financial Management from Sheffield University and is a Fellow of the Institute of Chartered Accountants in England and Wales.
http://www.stockland.com.au
