Original co-founder of Charter Hall retires

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Retirement announcement from Cedric Fuchs

With some sadness but with great excitement for the future, I announce my retirement from Charter Hall.

On 10 May 1991, I was one of three founders of Charter Hall when we opened a small office in North Sydney. At the time, the property market was depressed and many must have wondered whether we would even survive.

27 years later, Charter Hall is one of Australia's leading ASX listed property investment companies with nearly 500 employees nationally and more than $22 billion in funds under management. I am proud to have been a part of this business over those 27 years and of the organisation it is today.

I am also proud of the strong track record of the Direct business, where I have focused my efforts in recent years. It is now one of Australia's largest unlisted property platforms with $3 billion in funds under management and an exceptional track record of delivering consistent out performance for its investors. It has been my pleasure to keep you informed about the Direct funds and to represent you on the Charter Hall Direct Property Management Limited board of directors.

I would like to thank our investors for your support over so many years working together.

It will be business as usual at Charter Hall and in the Direct business. My official last day at Charter Hall will be 30 June 2018.