Lendlease chairman to step down at AGM

Disgruntled investors have welcomed Lendlease chairman Michael Ullmer’s vow to retire at the annual meeting in November, but remain adamant the embattled property giant must move even more quickly to fix its poorly performing global business.

The next test for the beleaguered developer comes on Monday, when chief executive Tony Lombardo will unveil his plan to revive Lendlease’s flagging fortunes.