Business

Vicinity chairman Hay postpones retirement

Vicinity Centres chairman Peter Hay has postponed his retirement after his successor-to-be took a health-related leave of absence.

The shopping centre owner and operator says Peter Kahan has taken a leave of absence from his current role as a non-executive director due to a health condition.

The company did not give any details.

Mr Hay announced in April that he would retire after Vicinity's full-year results on August 14, with Mr Kahan named by Vicinity as his successor.

Mr Hay has now agreed to be acting chairman during Mr Kahan's absence.

Mr Kahan has been on the board for four years and is currently chairman of Vicinity's remuneration and human resources committee, and a member of its audit committee.

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