Eric Lee will apply his financial skills and knowledge as the newly appointed CFO at MNG.

8th June 2015

Eric Lee is no stranger to the land development and property industry and as the new Chief Financial Officer he says his extensive knowledge in property investment will be vital to adding essential value to business at MNG especially during predicted tough economic times ahead.

Since 2011, Eric has been the Company Secretary for property development and funds management company Aspen Group where he had been in previous financial management and investor relation positions since 2007. Prior to this, he gained vital knowledge on the property industry in finance and commercial management roles at Elders Limited where he spent over eight years.

Over 20 years Eric has honed and developed his managerial and leadership skills within financial and corporate entities in Australia and the United Kingdom, including ASX listed companies like Foodland Associated Limited, working predominantly in property, funds management and wholesaling.

Working in high pressure roles Eric has become no stranger to adversity, and his reputation as a commercially astute executive able to execute business transformations in difficult financial environments delivering clear strategic thinking, made him a clear front runner for the position.

Eric said that his knowledge gained working in property and the contacts gained would be integral in invigorating MNG's core business.

"I was attracted by the strong company reputation MNG has built up over many years and the people I met in my initial dealings," Eric said.

"With my commercial and financial background I'm looking to add value to the business, particularly by focusing on the drivers that increase shareholder value – increasing cash flow and improving return on capital."

Eric added that although the current economic forecast was not exceedingly positive for the State, MNG was in a good position with experienced people at the helm.

"I'm excited to join MNG at a time when there is lots of opportunity for the business to consolidate its market position and embark on further growth, both organically and through prospective acquisitions in the sector," he said.

The Company welcomed Eric last month with CEO Scott Anderson stating that both the board and the executive management team looked forward to working with Eric in his capacity as the company's CFO and executive team member.

"Eric's positive attitude and proactive work ethic has already produced immediate beneficial results for the Company in the short time he has been with us," he said.