Grant Kelley has announced he will stepping down as CEO for shopping centre giant Vicinity Centres.

His departure follows that of Mirvac CEO Susan Lloyd-Hurwitz, and Mark Steinert at Stockland, as retail real estate goes through a post-pandemic changing of the guards.

Vicinity owns a $9 billion portfolio, including Australia’s largest mall Chadstone, in Melbourne, Bankstown Centre, and the QVB in Sydney.

Kelley was appointed CEO and Managing Director in January 2018, and will stay on until at least June next year.

“Grant successfully led Vicinity through the significant and unprecedented challenges of the pandemic while at the same time, ensuring the company was well positioned to deliver on its long-term growth objectives,” Vicinity chairman Trevor Gerber said this morning.

“Testament to Vicinity’s post-COVID operational and financial recovery, is the company being the best performing stock in the A-REIT index over the past 12 months, with Vicinity outperforming the A-REIT index by 30 per cent.”

Kelley said of his departure: “I am especially proud to be leaving Vicinity in a strong financial and operational position that will support continued growth and value creation in the future.”