Media Releases
Devine appoints Brent Hailey as Chief Operating Officer
Wednesday 16 October 2007
Listed property developer Devine Limited (ASX: DVN) has announced the appointment of Brent Hailey to the new role of Chief Operating Officer. Mr Hailey has more than 26 years experience in the property industry, specialising in residential development, civil engineering and strategic management.
Mr Hailey was previously Chief Executive Officer of MFS Diversified Group (ASX: MFT), a position he held since the Group's merger with Villa World Limited (ASX: VWD) in September 2006. He was Chief Executive Officer and an Executive Director of Villa World Limited from 2003.
Mr Hailey also held senior positions with the privately-owned civil construction and urban development company BMD Group for almost 16 years, including Managing Director of Development Consulting Pty Ltd, Director of Engineering and Property Services and Group CEO.
He is also the current President of the Urban Development Institute of Australia (UDIA) Queensland Division. Brent's roles with the UDIA have also included chairing the Industry Development Steering Committee and the South-East Queensland Regional Plan Task Force in 2004 and 2005.
Devine's founder and Managing Director, David Devine, said Mr Hailey's appointment demonstrates the company's commitment to continue to strengthen its expert team with the appointment of industry leaders.
"A key advantage Devine holds in the market is the skills and drive of its people," Mr Devine said.
"Brent's appointment further reinforces the expertise and experience within Devine's management team, while providing clear direction for our staff and investors.
"In his role, Brent will lead all Devine business divisions at a national level, including housing, property development, Devine Constructions, funds management and marketing.
"He brings strong, high-level experience with major listed property companies head-quartered in Queensland, but operating nationally, which is an excellent strategic fit for Devine.
"Brent's knowledge of the residential development sector and his experience in senior management roles will enhance the depth of talent already operating within the company."
Mr Devine said the quality of the company's Board and management has been critical to Devine's recent diversification achievements and its ability to attract and retain talented staff.
"Over the past two years, Devine has secured a number of leaders in their fields," Mr Devine said.
"This expertise provides a depth of experience and a broad knowledge base for Devine's Board and management at a time when Devine is expanding by sector and location."
On 29 August Devine announced an after tax profit of $21.367 million for the 2006-07 year, up 13.2 per cent on the previous year's result.
In May Leighton Holdings' acquired a 40 per cent stake in Devine for $95.6 million which represented Leighton's strategic entry into the residential development market.
The transaction has enabled Devine to fast track its expansion program and undertake further geographic diversification in the medium term.
