New chief at Mirvac
Former Suncorp chief executive John Mulcahy has emerged as a key player in the nation's property sector as the new chairman of Mirvac.
Mr Mulcahy will replace James MacKenzie, who plans to step down at the company's annual meeting in November.
Mr Mulcahy has been on the Mirvac board since November 2009. Before that he was chief executive of Suncorp. He has also worked at Commonwealth Bank and property developer Lend Lease.
Mr Mulcahy spent 14 years as the head of the property investment division at Lend Lease, and before joining the corporate world was a licensed builder.
Aside from non-executive directorships at GWA International and Coffey International, Mr Mulcahy has been a member of the Board of the Future Fund since 2006.
Mr Mulcahy stood down from Suncorp after the bank and insurer suffered heavy lending losses during the financial crisis.
Analysts said Mr Mulcahy's appointment was positive, as he knew the company well and had a strong property background. It also comes as Mirvac's fortunes are improving with a forecast stronger residential sector.
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