New chief at Mirvac

John Mulcahy is the former Suncorp chief executive who has been named the new chairman of Mirvac. He has been on the Mirvac board since November 2009 and will replace James MacKenzie when MacKenzie steps down at Mirvac's annual meeting in November.

According to the announcement, John Mulcahy will replace James MacKenzie when MacKenzie steps down at Mirvac's annual meeting in November, at which point Mulcahy will become chairman.

Mulcahy brings extensive property and financial experience: he was chief executive of Suncorp, worked at Commonwealth Bank, spent 14 years leading the property investment division at Lend Lease, and started his career as a licensed builder. That background is directly relevant to Mirvac's property business.

Analysts described the appointment as positive, noting Mulcahy knows the company well and has a strong property background, which is seen as beneficial for Mirvac's strategy and oversight.

For everyday investors, Mulcahy's appointment signals stronger, experienced oversight given his property credentials and long board tenure. Analysts view it positively, but investors should still consider Mirvac's fundamentals and market conditions before making decisions.

The article says Mirvac's fortunes are improving, with a forecast of a stronger residential sector, which provides a more positive backdrop for the company's performance.

The article notes Mulcahy stood down from Suncorp after the company suffered heavy lending losses during the financial crisis. Investors may view that history as part of his track record to consider alongside his property experience.

Yes. Mulcahy has held non-executive directorships at GWA International and Coffey International, and he has been a member of the Board of the Future Fund since 2006. These roles reflect his broader governance experience.