Scentre Group CEO and MD Peter Allen is to step down from the role on September 30 as part of a succession plan, before retiring next year. 

In an announcement today, the ASX-listed retail landlord’s board said Allen will be replaced by Elliott Rusanow who will assume the role on October 1. He is currently the group’s CFO.

Scentre Group chair Brian Schwartz said that since Allen’s appointment in 2014, he had built a strong organisation and culture focused on its people, the customer and communities.   

“Peter’s vision, dedication and hard work have changed the way we operate and placed Scentre Group in a strong and leading position. His industry leadership, over many years, is to be commended and particularly through the current Covid-19 pandemic.”

Rusanow joined Scentre Group as CFO in 2019 after 20 years with Westfield Group where he worked in senior roles in the UK, the US and Australia. 

Allen said it had been a privilege to serve as the group’s first CEO, “establishing our culture and leading our dedicated and highly aligned team in Australia and New Zealand, delivering long term sustainable returns to investors”.

“Scentre Group is in a great position, and the time is right for new leadership to accelerate our growth ambition. I have worked closely with Elliott over many years both at Scentre Group and Westfield Group and I am confident that he will take advantage of the many opportunities ahead,” Allen said.