Westfield CEO announces retirement next year, profit peaks to $846 million

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Chief Executive Officer of Scentre Group Peter Allen has announced he will retire from the group next year after serving as inaugural CEO of the group for more than eight years.
Scentre Group owns and operates all 42 Westfield shopping centres in Australia and New Zealand, controlling some 3.8 million square metres of retail space.
Today Mr Allen said it had been a “privilege” to serve as the first CEO of Scentre Group, and welcomed the company’s new CEO Elliott Rusanow, who is currently the Group’s Chief Financial Officer.
Despite the exit of Allen – and the ravages of COVID-19 – Scentre Group today also reported a 2021 full year operating profit of $846 million.
Mr Allen said the Group performed well despite the adversity of more and varied COVID-19 restrictions.
“We had 413 million customer visits and annual sales through our platform were $22.1 billion, despite the extended lockdowns in New South Wales, Victoria, ACT and Auckland during the year,” Mr Allen said.
“On a portfolio-weighted basis, the number of government restricted trading days was 81 in 2021, compared to 31 in 2020.
“This highlights that our Westfield Living Centres are essential social infrastructure and provide destinations that deliver the products, services and experiences our customers want.”