Angus McNaughton appointed to lead Federation Centres
Federation Centres has abruptly axed its chief executive Steven Sewell, replacing him with Angus McNaughton, the former chief at Novion Property Group.
The shock announcement sent Federation's ASX share price into a 4% dip yesterday.
Sewell headed the merged $22 billion property company after Angus McNaughton bowed out of contention for the top job once the two companies merged.
Federation Centres had only just announced Richard Jamieson in the role of chief financial officer and executive general manager investments replacing Tom Honan.
Richard Jamieson was formerly chief financial officer at Novion Property Group.