MANAGING director and chief executive officer of Hotel Property Investments, David Charles, has told the ASX-listed group’s board he intends to retire by the end of November next year.
HPI is yet to confirm a final date but has committed to a management transition period over the next 12 months, with the search for a successor to begin in the new year.
“David has overseen a very successful initial chapter in the life of HPI and will leave with the Board’s thanks for his diligent and successful management of the company since its listing in December 2013, initially as fund manager and more recently as managing director and chief executive officer,” HPI’s chairman, Mike Tilley said.
The group’s portfolio of freehold pubs and specialties comprises assets in Queensland and South Australia that are almost entirely leased to Coles and Woolworths’ ALH.
It posted a 65% rise in net profit after tax to $98.9 million for the 2017 financial year.
Australian Property Journal