No room at top in listed property
Rapidly growing sector still led by entrenched old hands
It could be a while before there is a widespread shake-up in the entrenched leadership of the listed property sector. Those who have their sights on senior jobs might be best advised to strike off on their own. Many of the JSE-listed funds in the commercial property sector are still led by their founders and a number of their executives have been in place for more than a decade. While some fund managers argue that it is better to have experienced executives who can bring surety to investors, they admit fresh blood has to enter the sector as it grows and develops. It just may take a few years as many of the experienced executives aren't even close to retirement age. Listed property is also a young sector in South Africa, having been formalised at the beginning of the millennium. Some CEOs have had only five to 10 years to find and groom the next generation of leaders.Likewise, many property executives have remained at funds since the early days of listed property and have been reward...
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