Kiwi Property Group, which manages a $3.1 billion portfolio of shopping centres and office buildings, has appointed Clive Mackenzie as chief executive, effective July 16, replacing Chris Gudgeon.

Mackenzie has extensive experience in retail and mixed-use property development in New Zealand and the United States, Kiwi Property said in a release to the stock exchange. Since 2011, he has held senior roles for Westfield USA, most recently as senior vice president – development East Coast and regional leader East Coast. Prior to this, he was general manager development for Westfield New Zealand,

Gudgeon's last day as chief executive will be July 13.

"Chris Gudgeon has led the business since 2008. Under Chris' leadership we have both significantly improved the quality of our investment portfolio and positioned it for future performance," said chair Mark Ford.

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The shares last traded at $1.365 and have declined 3.8 percent over the past 12 months.

- BusinessDesk