Mirvac Group has announced a significant reshuffle of its executive team, in what it calls a move to ‘better leverage its integrated model and maximise expertise of the senior executives within the Group’.

The changes will see CEO Development Brett Draffen take on a new position responsible for group strategy, tasking him with overseeing mergers and actuations as well as capital acquisitions and divestments.

The Development function has been divided into residential and commercial business unites. Residential will be headed up by John Carfi, while David Rolls will be responsible for commercial.

The reshuffle has seen the position of Chief Operating Officer removed, with key responsibilities being redistributed amongst the executive.

The role of Group Executive External Affairs has also been created, with Marie Festa taking up the role responsible for creating a focus on ‘clear, open and transparent communications’ to the Group’s investors and external stakeholders.

Mirvac’s CEO and Managing Director Susan Lloyd-Hurwitz commented, “The Executive Leadership Team announced today is composed of high calibre individuals that are focused on delivering total shareholder returns to our investors. 

“We must ensure there is a clear focus within the business on performance and accountability and the renewed structure ensures that we have an efficient and integrated approach to everything we do.  By combining responsibility for strategy, capital acquisitions, divestments and allocation we can strengthen the rigour around new investment decisions and ensure clear alignment with the whole of group strategy."