John Mulcahy will join the board of Mirvac Group as the new chair.

This follows James MacKenzie’s decision to stand down from the role at this year’s annual general meeting after eight years serving at the helm.

“Mr MacKenzie has led the group through some very challenging periods and has made a significant contribution to Mirvac,” John Mulcahy said.

“The group is now well positioned for the future with excellent leadership, a highly skilled team and a clear strategy.”

The decision to appoint Mulcahy as the new chair was unanimous. He has experience as a public company director and his extensive knowledge of the property sector.

Mulcahy has been on the board since 19 November 2009 as an independent non-executive director.