Mirvac group finance chief quits

The group finance chief of property giant Mirvac (ASX: MGR), Greg Dyer, has quit his post after just eight months in the job.

According to an ASX statement, Dyer resigns immediately but will remain with the group in an executive capacity to assist with the transition to a new group finance chief until September.

Mirvac CEO and managing director, Susan Lloyd-Hurwitz, thanked Dyer for his contribution since joining the team in August last year. Mirvac is now on the hunt for a new CFO.

“Greg has provided good support to all of the executive leadership team and the board,” she said. As examples, Lloyd-Hurwitz pointed to his role in assisting with the CEO leadership team transition when she joined controversially last November, as well as in several business initiatives, as key highlights.

Dyer joined Mirvac from Mulpha Australia, where he had been CFO since 2005. Prior to that, he was CFO of APN News and Media, and also worked as a CFO at Murdoch Magazines and Australian Consolidated Press Holdings. His resume also includes a 10-year stint at KPMG.

According to its interim results for the half-year to 31 December 2012, Mirvac claims to be on track to deliver full-year operating earning guidance of 10.7-10.8 cpss despite a $273.2m provision announced in February.

The group reported total operating EBIT of $225.4m over the period, along with statutory profit after tax of $55.2m, and highlighted continued success on commercial development and strong Mrivac Property Trust division metrics.

Follow CFO World Australia on Twitter: @CFOworld_AU, or take part in the CFO World conversation on LinkedIn: CFO World.