Already a subscriber?Tony Lombardo swears he’s “charged up and excited” about the chance to “make sure Lendlease is great again”.
In the next 12 months, Lombardo will cut another 1000 staff, about $125 million in costs, and aim to sell $2.8 billion of assets, the majority of which are already on the market, and most of which are located offshore.Lendlease will aim to sell a further $1.7 billion of projects from its international development portfolio, and exit its overseas construction businesses.
“We feel pretty vindicated by our strategy,” Di Pilla tells Chanticleer. “We haven’t been yelling and screaming about it. We’ve been very thoughtful and constructive in getting to this point today. “We’re prudent and responsible shareholders. We want this company to be a focused but not a pressured seller,” Wylie says.The long and storied history of Lendlease in corporate Australia amplifies the magnitude of Monday’s new plan.
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