DEVINE ANNOUNCES NEW CEO

BRISBANE property developer Devine has ushered in a new CEO.

Andrew Cooper will head the company for an initial term of three years, taking over from acting CEO Craig Bellamy, who will return to his previous position of chief financial officer.

Cooper will lead the current strategic review of Devine's business, according to a market announcement earlier today.

Cooper was previously executive director and chief operating officer of CIMIC Group's Leighton Properties, responsible for overseeing the company's residential developments and its national residential strategy.

He has more than 33 years' experience in property development and construction.

Cooper will take a pay check of $471,625 per annum, inclusive of superannuation, and a living away from home allowance of $49,020 per annum in addition to accommodation and travel assistance.

The Devine board has been further shaken up today with David Robinson, a current director, being appointed as non-executive chairman. Peter Dransfield will cease to be non-executive independent chairman and remain as an independent director and appointed chairman of the audit committee, while George Sassine has been appointed as a director.

Judith Downes, Jeff Cummings and Mark Gray have resigned from the board.