Mirvac loses finance director Dyer

Mirvac's shake-up in its executive ranks continued with the surprise news that finance director Greg Dyer had resigned after only eight months in the position.

Mirvac's shake-up in its executive ranks continued with the surprise news that finance director Greg Dyer had resigned after only eight months in the position.

Analysts said the departure would make it that much harder for the group to undertake any merger and acquisitions, such as its speculated tilt at Australand.

Mr Dyer joined Mirvac last September. At the group's general meeting in November, Mr Dyer was the subject of debate by the Australian Shareholders' Association, who raised concerns about him participating in Mirvac's long-term performance plan.

It has been suggested that the diversified property company was looking at making an offer for Australand. However, analysts are expecting that GPT will launch another offer for Australand with the agreement of a joint venture partner to buy the residential assets.

In a short statement new Mirvac chief executive Susan Lloyd-Hurwitz said Mr Dyer would be resigning from the Mirvac board immediately, however he intends to remain in an "executive capacity to assist in transitional arrangements until September 2013".

Related Articles