DEXUS Management

Management criteria checks 2/4

DEXUS' CEO is Ross Du Vernet, appointed in Mar 2024, has a tenure of less than a year. total yearly compensation is A$2.48M, comprised of 41.4% salary and 58.6% bonuses, including company stock and options. directly owns 0.036% of the company’s shares, worth A$2.84M. The average tenure of the management team and the board of directors is 4.2 years and 2.2 years respectively.

Key information

Ross Du Vernet

Chief executive officer

AU$2.5m

Total compensation

CEO salary percentage	41.4%
CEO tenure	less than a year
CEO ownership	0.04%
Management average tenure	4.2yrs
Board average tenure	2.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Ross Du Vernet's remuneration changed compared to DEXUS's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	AU$2m	AU$1m	-AU$2b
Mar 31 2024	n/a	n/a	-AU$1b
Dec 31 2023	n/a	n/a	-AU$1b
Sep 30 2023	n/a	n/a	-AU$1b
Jun 30 2023	AU$2m	AU$808k	-AU$753m
Mar 31 2023	n/a	n/a	AU$42m
Dec 31 2022	n/a	n/a	AU$836m
Sep 30 2022	n/a	n/a	AU$1b
Jun 30 2022	AU$3m	AU$776k	AU$2b
Mar 31 2022	n/a	n/a	AU$2b
Dec 31 2021	n/a	n/a	AU$2b
Sep 30 2021	n/a	n/a	AU$1b
Jun 30 2021	AU$2m	AU$728k	AU$1b
Mar 31 2021	n/a	n/a	AU$779m
Dec 31 2020	n/a	n/a	AU$420m
Sep 30 2020	n/a	n/a	AU$696m
Jun 30 2020	AU$2m	AU$711k	AU$973m
Mar 31 2020	n/a	n/a	AU$1b
Dec 31 2019	n/a	n/a	AU$2b
Sep 30 2019	n/a	n/a	AU$1b
Jun 30 2019	AU$2m	AU$729k	AU$1b
Mar 31 2019	n/a	n/a	AU$1b
Dec 31 2018	n/a	n/a	AU$1b
Sep 30 2018	n/a	n/a	AU$2b
Jun 30 2018	AU$2m	AU$680k	AU$2b

Compensation vs Market: Ross's total compensation ($USD1.56M) is below average for companies of similar size in the Australian market ($USD2.41M).

Compensation vs Earnings: Ross's compensation has increased whilst the company is unprofitable.

CEO

Ross Du Vernet

less than a year

Tenure

AU$2,481,931

Compensation

Mr. Ross G. Du Vernet, BBus, MBA, AMP and has been Managing Director of Dexus Funds Management Limited, Responsible entity of DEXUS since 2024 and serves as its Executive Director of Dexus Funds Management...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Ross Du Vernet	CEO, MD & Executive Director of Dexus Funds Management Limited	less than a year	AU$2.48m	0.036% A$ 2.8m
Keir Barnes	Chief Financial Officer of Dexus Funds Management Limited	3.3yrs	AU$1.56m	0.0037% A$ 292.1k
Melanie Bourke	Chief Operating Officer of Dexus Funds Management Limited	5.1yrs	no data	no data
Jonathan Hedger	Chief Investment Officer	1.1yrs	no data	no data
Rowena Causley	Head of Investor Relations	no data	no data	no data
Brett Cameron	General Counsel & Company Secretary of Dexus Funds Management Limited	10.3yrs	no data	no data
Luke O'Donnell	Senior Manager of Media & Communications of Dexus Funds Management Limited	no data	no data	no data
Paul Oates	Group General Manager of Development	10.2yrs	no data	no data
Marjan der Burg	Chief People Officer	1.1yrs	no data	no data
Richard Garing	Regional General Manager of Office & Industrial	no data	no data	no data
Ramana James	Head of Sustainability	no data	no data	no data
Scott Mahony	Head of Governance & Company Secretary of Dexus Funds Management Limited	6yrs	no data	no data

4.2yrs

Average Tenure

Experienced Management: DXS's management team is considered experienced (4.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Ross Du Vernet	CEO, MD & Executive Director of Dexus Funds Management Limited	1.2yrs	AU$2.48m	0.036% A$ 2.8m
Peeyush Kumar Gupta	Independent Director of Dexus Funds Management Limited	less than a year	AU$36.49k	0.0013% A$ 104.3k
Mark Henry Ford	Independent Non-Executive Director of DEXUS Funds Management Limited	8.3yrs	AU$282.05k	0.0016% A$ 128.9k
Warwick Negus	Independent Chair of DEXUS Funds Management Limited	4yrs	AU$490.00k	0.0056% A$ 444.9k
Paula Dwyer	Independent Director of DEXUS Funds Management Limited	2yrs	AU$232.05k	0.0023% A$ 185.4k
Elana Rubin	Independent Non-Executive Director of DEXUS Funds Management Limited	2.4yrs	AU$266.46k	0.0026% A$ 206.1k
Rhoda Phillippo	Independent Director of DEXUS Funds Management Limited	2yrs	AU$215.88k	0.0014% A$ 111.4k
Nicola Roxon	Independent Non-Executive Director of DEXUS Funds Management Limited	7.4yrs	AU$232.05k	0.0024% A$ 190.2k

2.2yrs

Average Tenure

65yo

Average Age

Experienced Board: DXS's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/02/13 07:33
End of Day Share Price	2025/02/13 00:00
Earnings	2024/06/30
Annual Earnings	2024/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

DEXUS is covered by 19 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Benjamin Brayshaw	Barrenjoey Markets Pty Limited
Nicholas McGarrigle	Barrenjoey Markets Pty Limited
Donald Chua	BofA Global Research

DEXUS Management

Management criteria checks 2/4

Key information

Recent management updates

Key Executive exercised options to buy AU$510k worth of stock.

Key Executive exercised options to buy AU$413k worth of stock.

Dexus Announces Executive Changes

High number of new directors

High number of new directors

Dexus Announces Chief Executive Officer Changes, Effective 28 March 2024

Recent updates

DEXUS(ASX:DXS) dropped from S&P/ASX 50 Index

Key Executive exercised options to buy AU$510k worth of stock.

Final dividend of AU$0.19 announced

Aware Super Pty Ltd agreed to acquire Office building at 145 Ann Street, Brisbane from DEXUS (ASX:DXS) and Canada Pension Plan Investment Board for approximately AUD 210 million.

An undisclosed buyer acquired B grade suburban office building in Sydney. from DEXUS (ASX:DXS).

Key Executive exercised options to buy AU$413k worth of stock.

Dexus Provides Distribution Policy Update

DEXUS Announces Dividend for the Period Ended June 30, 2024, Payable on August 29, 2024

Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

DEXUS to Report First Half, 2025 Results on Feb 19, 2025

Dexus Announces Executive Changes

First half dividend of AU$0.21 announced

High number of new directors

High number of new directors

Upcoming dividend of AU$0.27 per share at 6.7% yield

Dexus Announces the Ordinary Dividend for the Six Month Ending December 31, 2023, Payable on February 29, 2024

Dexus Announces Chief Executive Officer Changes, Effective 28 March 2024

Darren Steinberg to Step Down as Dexus CEO

Darren Steinberg to Step Down as Dexus CEO

Buyers Reportedly on Runway for Airport Stakes

An unknown buyer agreed to acquire A grade office building at 1 Margaret Street from DEXUS (ASX:DXS) for AUD 300 million.

New major risk - Financial position

Full year 2023 earnings: Revenues miss analyst expectations

DEXUS to Report First Half, 2024 Results on Feb 14, 2024

New major risk - Revenue and earnings growth

Consensus revenue estimates decrease by 10%

New major risk - Revenue and earnings growth

An unknown buyer has exchanged contracts to acquire Axxess Corporate Park, Mount Waverley Victoria from DEXUS (ASX:DXS) for approximately AUD 310 million.

An unknown buyer entered into an agreement to acquire CBD A Grade Office Building in Sydney from Dexus (ASX:DXS).

Now 21% undervalued

Board Member recently bought AU$50k worth of stock

First half 2023 earnings released: EPS: AU$0.022 (vs AU$0.75 in 1H 2022)

Dexus Announces Actual Dividend for the Six Month Ending December 31, 2022, Payable on February 28, 2023

Dexus Announces Dividend for the Six Month Ending December 31, 2022, Payable on February 28, 2023

Ashe Morgan Pty Limited acquired Homemaker Prospect from Dexus (ASX:DXS) for AUD 78.9 million.

Ashe Morgan Pty Limited acquired Homemaker Prospect from Dexus (ASX:DXS) for AUD 78.9 million.

Key Executive recently bought AU$77k worth of stock

Dexus Provides Distribution Guidance for the 12 Months Ended 30 June 2023

Sim Lian Group Limited acquired Shepparton Marketplace Shopping Centre from Dexus Wholesale Property Fund, managed by Dexus (ASX:DXS) for $88.1 million.

Key Executive recently bought AU$173k worth of stock

Key Executive exercised options to buy AU$1.4m worth of stock.

Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Now 20% undervalued after recent price drop

Dexus to Report Fiscal Year 2023 Results on Aug 16, 2023

Dexus Announces Ordinary Franked Dividend for the Six Months Ended June 30, 2022, Payable on August 30, 2022

Board Member recently bought AU$79k worth of stock

Board Member recently bought AU$225k worth of stock

An Unknown buyer completed the acquisition of 50% of stake in 309-321 Kent Street, Sydney from Dexus (ASX:DXS).

Now 20% undervalued

Dexus (ASX:DXS) agreed to acquire Collimates real estate and domestic infrastructure equity business from Collimate Capital Limited for AUD 550 million.

Dexus Confirms Discussions with AMP

AMP Confirms in Talks to Sell Investment Management Unit with Multiple Parties, Including Dexus

An unknown buyer completed the acquisition of 50% stake in 12 Creek Street, Brisbane from Dexus (ASX:DXS).

Now 21% undervalued after recent price drop

Now 21% undervalued after recent price drop

An unknown buyer entered into agreement to acquire 50% stake in 12 Creek Street, Brisbane from Dexus (ASX:DXS) for AUD 319 million.

An unknown buyer completed the acquisition of 201 Miller Street, North Sydney from DEXUS Office Partnership, managed by Dexus (ASX:DXS).

First half 2022 earnings: EPS and revenues exceed analyst expectations

An unknown buyer agreed to acquire 140 & 150 George Street from DEXUS Office Partnership for approximately AUD 150 million.

Upcoming dividend of AU$0.28 per share

AMP Capital Shopping Centre Fund, managed by AMP Capital Investors Limited acquired a 25% stake in CEV Multimedia ltd from Dexus Wholesale Property Fund managed by Dexus (ASX:DXS) for approximately AUD 420 million.

An unknown buyer exchanged contracts to acquire 201 Miller Street, North Sydney from DEXUS Office Partnership, managed by Dexus (ASX:DXS) AUD 152.4 million.

Shayher Group agreed to acquire Milton Green business park from Dexus Wholesale Property Fund, a fund managed by Dexus (ASX:DXS) and AMP Capital Diversified Property Fund, a fund managed by AMP Capital Investors Limited.

An unknown buyer agreed to acquire A-Grade Office Building Located at 383 Kent Street, Sydney from Dexus (ASX:DXS) for approximately AUD 400 million.

Chief Financial Officer of Dexus Funds Management Limited Alison Harrop has left the company

Dexus Healthcare Property Fund, a fund managed by Dexus (ASX:DXS), acquired Arcadia Pittwater Private Hospital and Day Rehabilitation Facility from Breckenridge Funds Management for AUD 50.5 million.

Full year 2021 earnings released: FFO AU$0.66 per share (vs AU$0.67 in FY 2020)

Dexus Reportedly to Sell $1.3 Billion of Towers

Consensus EPS estimates increase to AU$0.60