Federation announces merger shake-up

Company News

Federation Centres (ASX:FDC) has announced sweeping changes to its corporate structure and executive team as it seeks to integrate the Novion Property Group merger and streamline management. 
The company will combine the roles of Executive General Manager Investments and Chief Financial Officer. Current CFO Tom Honan will leave Federation Centres to pursue other interests with Richard Jamieson, CFO of Novion, to fill the roles until a suitable candidate is found. 
Federation will also create a single IT platform headed up by David Marcun. A new Executive Marketing role has been created with outside candidates now on a short list.

Federation’s Jonathan Timms will head up the Development team with his Novion counterpart Daryl Stubbings considering other roles within the merged group. 
Federation Centres reported a half yearly net profit of $222.5 million for the 2015 financial year.

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