Property firm Lendlease Group is seeing a change of leadership, with chief executive Steve McCann stating he will retire from the group at the end of May, 2021.

His successor has already been named as Tony Lombardo, who currently operates as the chief executive officer of Lendlease Asia.

“It has been a tremendous privilege to lead Lendlease for more than 12 years. I’d like to thank every one of our people around the world for their dedication in delivering our projects safely and sustainably on behalf of our customers, investment partners and the communities in which we operate,” said McCann.

“I have worked closely with Tony for 13 years and am confident in the future of Lendlease in his hands.”

McCann leaves the business in a strong position, according to Lombardo, who said he is honored to take the role, and that he is looking forward delivering positive outcomes in his new leadership position.

Chairman Michael Ullmer said McCann has been instrumental in Lendlease’s transformative efforts in the last decade, focusing on creating an integrated business model and targeting international gateway cities.

“Under Steve’s leadership, the Group’s global development pipeline has grown to $110 billion, including twenty-two major urbanisation projects across ten of the world’s most iconic cities,” Ullmer said.

“Steve’s passion, intellect and leadership as well as his unwavering commitment towards operating in a safe and sustainable way have left a powerful legacy.”