An ASX-listed real estate company has revealed a new group CEO, effective 29 March 2021.
Former McGrath Limited CEO and COO Geoff Lucas will be taking on the role of The Agency Group CEO from next week.
According to The Agency chairman Andrew Jensen, “the appointment comes at a time when The Agency is looking to use the foundation of its strong balance sheet and industry-leading operational performance to continue to drive growth across its business”.
“We are pleased Geoff has agreed to join The Agency, given his immense experience and success in the real estate sector,” he continued.
Mr Lucas was the CEO of McGrath Limited from 2018 to 2020, and held the role of COO there between 2008 and 2016.
The Agency Group Australia Ltd (ASX: AU1) (“The Agency” or “the Company”) is pleased to advise the appointment.
Mr Lucas’ decision to join the ASX-listed group was driven by his impression of the resilience and commitment of the real estate network “to its customers, people and strategy during its formative stages”.
According to a statement announcing his appointment, he believes the business is now positioned, through its strengthened balance sheet, to be active in consolidation of the industry.
“I am excited to be joining The Agency Group, which I believe has a model and philosophy designed to appeal to a growing number of principals and agents, given the current evolution of the real estate market,” the new CEO stated.
He added: “This team has demonstrated tremendous resilience and commitment during their formative stages. The business is now in a position of financial strength and is beginning to dominate market share in a number of key markets.”
Citing the group’s recent expansion into Queensland and creation of a national commercial business, Mr Lucas said it demonstrates the brand’s “true national presence”.
The group CEO had also expressed his excitement at once again working with The Agency real estate’s CEO, Matt Lahood, with whom he worked for eight years at McGrath.
He said it’s “particularly exciting given the success we shared in growing our people and the business while delivering exceptional customer service”.
Managing director of The Agency Paul Niardone will also work closely with Mr Lucas.