Stockland snares CFO from Transfield TRANSFIELD Services' chief financial officer Tiernan O'Rourke has been hired by Stockland to replace its outgoing finance boss Tim Foster. Stockland chief executive Mark Steinert has made sweeping job cuts and management changes since he joined the country's largest residential developer last year. The departure of Foster and Stockland's head of residential, Mark Hunter, were announced in May, followed by that of retirement boss David Pitman. Stockland promoted Andrew Whitson to replace Hunter and Stephen Bull to replace Pitman last month. Foster will remain with Stockland until October, with O'Rourke to start on October 20. "Tiernan is a highly qualified executive with extensive experience as a CFO, including a number of years in the property sector," Steinert said. O'Rourke was previously chief financial officer of rival developer Australand. He has also held senior finance positions at AGL, Westfield, CSR and Brambles. At Westfield O'Rourke was responsible for public reporting of entities such as Westfield Americas Trust and Westfield Trust. Stockland is also searching for a new executive to head its industrial property business.