Plenary has announced Chief Investment Officer David Lamming will succeed Asia Pacific CEO Paul Oppenheim from January next year.
Lamming, who joined Plenary at its inception in 2004 as Head of Origination, in his new capacity as CEO will lead the company’s Asia Pacific business in targeting a mammoth $15 billion worth of new projects.
Plenary Chairman John O’Rourke said Lamming is the right leader to take the company’s experienced team into the future.
“David has been outstanding in every role he has filled at Plenary and the board is very confident about further success under his leadership.”
Lamming said Plenary’s “exemplary track-record, market positioning relative to the project pipeline, the calibre of our people and our partnership with CDPQ, form a really strong platform from which to pursue further growth. I am grateful for the confidence the board and the senior executive team have shown in me and I’m very much looking forward to leading Plenary into the 2020s.”
Founding CEO Oppenheim was instrumental in Plenary’s growth, building the business from 10 employees to 250 across Asia Pacific and North America.
Oppenheim said “a hallmark of Plenary’s approach is the personal engagement executives have with our partners and clients.
Over coming months David and I will be speaking to our key stakeholders, sharing our views on emerging opportunities and Plenary’s aspirations under David’s leadership.”
Plenary have devised a transition plan that will see Lamming assuming the role of CEO from January, while Oppenheim will remain a shareholder and non-executive director of Plenary’s APAC and North American regions alongside the Sydney Metro board.
Plenary is currently part of a shortlisted consortium made up of Lendlease, John Holland and Acciona Construction hoping to win the $15.8 billion bid on Melbourne’s North East Link project.
Plenary also hopes to increase its involvement in the Sydney Metro North West project, where it currently holds a 10 per cent stake. Part of the Northwest Rapid Transit consortium, the company aims to up its equity to 15 per cent.
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