The Lendlease Group (ASX: LLC) share price is in focus after the developer announced CEO Tony Lombardo will step down in August 2026. The company revealed a leadership transition is underway, following the successful implementation of its refreshed strategy.
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What did Lendlease report?
- CEO and Managing Director Tony Lombardo to leave after five years in the role
- Succession plan initiated, with executive search firm engaged to find new CEO
- Strategic reset of the Group has been largely executed
- Focus remains on long-term value creation for people, customers, and securityholders
What else do investors need to know?
Lombardo, who has been with Lendlease for 18 years, will depart after overseeing a period of significant change. The Board says the strategic reset — including efforts to simplify the portfolio, restore the balance sheet, and position for future growth — is now "embedded".
Chairman John Gillam described FY27 as an "inflection point" for the business, suggesting that this is the right opportunity for new leadership. The transition process will prioritise stability, with Lombardo staying until August 2026 to support an orderly handover.
An international executive search firm has been appointed to identify the next Group CEO, with further updates to be provided to the market as the process unfolds.
What's next for Lendlease?
Lendlease is entering the next phase of its strategy, with FY27 signalled as a turning point for the Group. The company is aiming to build on its recent foundations and drive long-term growth.
Investors can expect more updates on the CEO search and further details on business execution as the leadership transition is managed across the coming 18 months.
Lendlease share price snapshot
Over the past 12 months, Lendlease shares have declined 29%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.
