Dexus has appointed its chief investment officer to become its next CEO, following the expected departure of Darren Steinberg in March 2024.
Ross Du Vernet has held the role of CIO at Dexus for more than 11 years and has over two decades’ experience in the property industry.
He will commence his appointment as CEO and executive director in March 2024.
Darren Steinberg, who announced his intention to step down on 26 October after more than a decade in the role, will continue as chief executive until Du Vernet’s commencement.
“On behalf of the board, we are delighted to appoint Ross as the next CEO of Dexus. The board has spent much of 2023 planning for succession, which also included executing a global search, and is confident that alongside our highly regarded executive leadership team, Ross will succeed in leading Dexus through its next phase of growth,” said Warwick Negus, Dexus chairman.
“During his time at Dexus, Ross has made a significant contribution to the delivery of our strategy and repositioning the company as a leading Australasian real assets manager. The combination of his deep property investment expertise, track record of setting and delivering on strategy, and his knowledge of the Dexus business makes Ross the ideal successor,” Negus continued.
He also thanked outgoing Steinberg for his leadership over the past 12 years. This included his instrumental role in growing the firm’s total funds under management from $12.9 billion to $61 billion, while also enhancing portfolio quality and diversifying the platform to include new sectors.
Steinberg said: “Dexus has a strong team of experienced and high performing people, and I will miss working with them every day. One of my proudest achievements is building a talented team of people who I have seen flourish at Dexus.”
He congratulated Du Vernet on his appointment as CEO and expressed his confidence in his future leadership.
Commencing on his appointment, the incoming chief executive said: “It is a privilege to be appointed to the role of CEO. Dexus is at an exciting stage in its evolution, with strong foundations and a unique set of capabilities in the platform.
“Darren is handing over Dexus in a strong position, and I am committed to working with our clients, the board and wider Dexus team as we deliver long-term value for investors and work towards our vision of being globally recognised as Australasia’s leading real asset manager.”
