Scentre Group (ASX: SCG) today advised that its Chair Brian Schwartz AM has announced his intention to retire from the Board of Scentre Group on 30 September 2023. Mr Schwartz has been the Group’s Chair since 2016.

The Board has endorsed Ilana Atlas AO as Chair-Elect. Ilana was appointed to the Scentre Group Board in 2021.

Mr Schwartz said: “Having completed the Group’s CEO succession, and with the company moving forward strongly as demonstrated by our most recent full year results with Funds from Operation and Distribution both exceeding guidance, it is the right time for me to step down.

“I am delighted Ilana will succeed me as Chair. Her leadership will add greatly to the future success and growth of our company. I look forward to working closely with Ilana, Board Directors, and our CEO Elliott Rusanow over the coming months to complete a seamless transition.”

Chair-Elect Ilana Atlas said: “I would like to thank Brian on behalf of the directors and securityholders for his outstanding contribution to the Group since its inception 9 years ago and his leadership of the Board for the past 7 years. In particular, I would like to acknowledge his leadership of the Board through the successful CEO and CFO succession.

“I am honoured to have been nominated by my Board colleagues following Brian’s decision to retire and am committed to the stewardship of Scentre Group’s purpose and ambition to deliver long-term value creation for our securityholders.”

Chief Executive Officer Elliott Rusanow said: “On behalf of the Scentre Group team, I thank Brian for his leadership and support of our business.

“Under Brian’s leadership we have grown and developed a customer strategy and culture that sets us apart. Our platform of Westfield destinations is unrivalled, and we remain focused on attracting more people and creating the most efficient platform for business partners to connect with customers. I look forward to working with Brian and Ilana on the transition and maintaining our focus on our growth ambition to become essential to people, their communities and the businesses that interact with them.”

Authorised by the Board.