Lendlease CEO Tony Lombardo to Exit in August 2026 After Five Years

Leadership Transition at a Pivotal Moment

Lendlease has announced that Tony Lombardo, the Group CEO and Managing Director, will step down in August 2026 following the release of the company’s full-year financial results. Lombardo’s departure comes after an 18-year tenure with the company, including five years leading the group through a critical period of strategic transformation.

During his leadership, Lombardo oversaw a comprehensive reset of Lendlease’s strategy, focusing on restoring the balance sheet and simplifying the company’s portfolio. This approach aimed to position the business for sustainable, long-term value creation for its stakeholders, including employees, customers, and investors.

A Strategy Embedded, A New Chapter Ahead

Chairman John Gillam highlighted that the refreshed strategy is now firmly embedded within the organisation, setting the stage for FY27 to be an inflection point. The Board and Lombardo agreed that this juncture presents a natural opportunity for new leadership to take the reins and drive the next phase of execution and delivery.

Lombardo expressed pride in the progress made during his tenure and indicated that the timing was right for both him and the company to embark on new chapters. He plans to relocate to South-East Asia to pursue fresh career opportunities, signalling a personal and professional transition.

Search for Successor Underway

The Board has engaged a leading international executive search firm to identify a successor who can build on the foundations laid by Lombardo. While no timeline beyond the August 2026 departure has been provided, the company has committed to ensuring an orderly transition.

This leadership change will be closely watched by investors and market participants, as the new CEO’s vision and execution will be critical in navigating the company through its next growth phase amid evolving market conditions.