lend lease wasting no time...

This isn't coming up within the normal threads for BBC. Further positive sign that Lend Lease and therefore BBC are getting on with things...


APPOINTMENT OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER
Babcock & Brown Communities (ASX: BBC) announced earlier today that the Management Agreements between BBC and Babcock & Brown have been novated to Lend Lease.
Lend Lease, as Manager of BBC, have also announced that it has appointed two of its long term and highly experienced executives to manage the BBC business. Rod Fehring, currently Chief Executive Officer (CEO) of Lend Lease Ventures, will take the position of CEO and Paul Walsh, currently Global Chief Financial Officer (CFO) of Bovis Lend Lease will move to CFO of the business. Mr Fehring and Mr Walsh collectively bring over 40 years experience in the property industry to the BBC business.
John Martin and other Babcock & Brown senior management executives working in BBC will remain employees of Babcock & Brown, however will be seconded to Lend Lease for a transition period. Mr Martin will remain as a Director of BBC up until the date of the Annual General Meeting.
Judith Sloan, BBC Chairman said “I thank John for his significant contribution and commitment to the BBC business over the past four years and further for the dedication and leadership he has shown through the extensive Strategic Review process. On behalf of the Board I wish him every success for the future.”