ISPT's CEO Daryl Browning to step down

ISPT today announced that CEO Daryl Browning is to step down after 17 years in the role and 20 years with the organisation.

Chair Rosemary Hartnett said, “The Board, in conjunction with Daryl and his leadership team, have been reviewing our corporate strategy for the next five years and together we feel this is an appropriate time for him to hand over the reins to a new CEO to take ISPT through its next phase of growth.”

Under Mr Browning’s leadership, ISPT has grown from having some $2B of property assets under management to nearly $20B today, with 140 properties across the country.

“Daryl has not only led this incredible growth and delivered sustained risk-adjusted returns for our investors, but successfully navigated the GFC and, more recently, the COVID-19 pandemic,” Ms Hartnett said. “Daryl understands the property market intimately and this has allowed ISPT to anticipate obstacles and capitalise on opportunities.

“Most of all, Daryl has earned the trust and confidence of our investors, employees, board members, partners and service providers,” she said. “He not only keeps our purpose front-of-mind every day, but he lives and breathes it.

“On behalf of us all, I thank him for his passionate and purposeful leadership of our business.”

Mr Browning said it has been a great honour to lead ISPT which invests in property on behalf of millions of industry super fund members.

“I would like to acknowledge the support of our Investors and business partners, as well as the enormous contribution from our many talented team members who I have been proud to lead, in particular, our strategic leadership group,” Mr Browning said.

“A real highlight has been to work with my fellow CEOs as founding members of the Property Male Champions of Change which aims to bring about significant change and gender equality in a male-dominated industry.”

Ms Hartnett said an internal and external search was underway for Mr Browning’s successor, with a smooth transition planned over the coming months.

“I look forward to the next phase of my professional life and observing ISPT’s continued success,” Mr Browning said.