Stockland's new chairman, Tom Pockett, stepping into the seat after a record quarter for residential sales, aims to build on the work of his predecessor, Graham Bradley, and his chief executive, Mark Steinert.
"We have a good clear strategy," he told The Australian Financial Review after the AGM on Wednesday.
"Stockland is a company I have admired for many years even before I joined it.
"It has the right assets and people (and) I will work hard as chairman to represent the best interest of the security holders."
Mr Pockett joined the Stockland board in September 2014 after 12 years as the chief financial officer at Woolworths, where he had a hand in the failed Masters strategy,
He was previously deputy chief financial officer at the Commonwealth Bank and before that had a number of finance roles with Lendlease.
"When things don't quite work out, you learn," he said.
In a brief address to the AGM he acknowledged Mr Bradley for his work in the last decade.
"He has sat on countless meetings and managed the CEO succession for only the third time," he said.
"He is to be acknowledged for the successful redevelopment of Merrylands, which was the the largest at the time in 2012. Today it is a very productive centre.
"For the acquisitions in Leppington which are now thriving communities. And last year we marketed the launch of our largest site in Caloundra South, and this has been supported by Graham for many years."
Strong foundation to build on
So what are the challenges for Stockland? "I prefer to look at opportunities," said Mr Pocket. "Graham has left a wonderful foundation.
"One of the opportunities is having a very good CEO in Mark and a very strong management team."
Mr Pockett said there would be opportunities across the sector in a low interest rate environment.
"We will continue to invest in industrial property and selectively into more medium density, particularly in Sydney," he said.
Mr Pockett said the board and management were very comfortable with the retirement sector, which is often seen as potential disposal for Stockland. "We will continue to invest in it," he said.
He did note "some talk about partnering" in the retirement sector. "It has not gone away but it is important to find the right partner," he said.
And what is the Pockett style? "I am a no-frills individual and very down to earth," he said.
