Lifestyle Communities boss to retire months after allegation that properties are a ‘financial prison’
Lifestyle The managing director of Lifestyle Communities has announced his retirement, three months after a 7.30 investigation into the company exposed the high fees it charged residents when they left its developments.James Kelly, 65, who co-founded Lifestyle more than two decades ago, is leaving without a successor in place, the company told the Australian Stock Exchange (ASX) on Monday.The company's share price was hit hard in July when 7.30 broadcast its investigation falling 7.8 per cent from $12.57 to $11.59.Mr Kelly did not respond to questions about whether his retirement was linked to the 7.30 investigation.James Kelly, managing director of Lifestyle Communities, has announced his retirement. (lifestylecommunities.com.au)Shares in Lifestyle, which have been falling all year, dropped 3.7 per cent in morning trade.Shortly after 1pm on Monday, it was fetching $9.03 a share.Mr Kelly...