Longtime Cromwell chief departs

Paul Weightman has left Cromwell after more than 22 years at the head of the ASX-listed real estate investment group.

Announcing his departure on LinkedIn, Weightman said, "I owe an enormous debt of gratitude to so many people who have shared that time with me."

Weightman co-founded the group when it was rebranded from property syndicator Westholme Limited. "It has been an honour and a privilege to have been CEO of a business that has delivered such strong returns over such a long timeframe," he said in a statement. "This has been tested as much this year by COVID-19 as it was back in 1998 when we saw an opportunity to start-up a real estate business that put people first.

"I'm proud that Cromwell has come through the pandemic and is continuing to operate successfully, particularly with the majority of its people working from home for most of the year."

CFO Michael Wilde has been named the acting chief executive while the organisation searches for a replacement. He joined the group in 2015.