Steve Penney most recently served as chief financial officer at Kiwi Property Group.
Steve Penney.
Freedom Lifestyle Villages has appointed Steve Penney as its new chief executive from March 30, marking a significant milestone in the company’s next phase of growth and expansion.
Freedom Lifestyle Villages is a New Zealand-based operator of modern, over-50s independent living communities, offering architecturally designed homes, resort-style facilities, and a strong, resident-led social culture. The business is differentiated by its equitable financial model, which allows residents to benefit from capital gains when selling their homes (subject to terms), alongside a growing national development pipeline.
Penney brings more than 20 years’ experience across investment, finance, strategy, and organisational leadership, with a strong track record in listed property, large-scale development, and capital-intensive businesses.
Most recently, Penney has served as chief financial officer at Kiwi Property Group, an S&P/NZX 20 company, where he played a key role in the strategic and operational transformation of the business. Prior to this, he held senior investment roles at Stride Property Group and HRL Morrison & Co, and earlier in his career spent nine years at PwC. He has led complex investment, development, and portfolio strategies across property and infrastructure sectors.
Freedom chair Bill McDonald is currently serving as interim CEO until Penney commences the role in March. He said Penney’s appointment positions the business strongly for its next chapter.
“After a long and thorough recruitment process, we are delighted to appoint Steve as Freedom’s new CEO,” McDonald said.
“Steve brings deep financial and strategic capability, proven leadership experience, and a values-based approach that aligns strongly with the Freedom culture. He is exceptionally well placed to help drive sustainable growth, expand our village footprint, and continue delivering a fair and compelling lifestyle offering for our residents.”
Penney said he was excited to be joining Freedom: “Freedom has built something genuinely distinctive in the New Zealand retirement living market with its vibrant, progressive villages that support independence, connection, and choice.”
“I’m looking forward to leading a business that puts people and community at its centre, while continuing to grow responsibly and create long-term value for residents, partners and shareholders.”
This is supplied content and not commissioned or paid for by NBR.
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