Listed real estate group McGrath has announced the appointment of a new chief executive officer, Geoff Lucas.

The appointment comes after the recent exit of most of the company's board.

Earlier this week, McGrath appointed former Seven Group chief financial officer, Peter Lewis, as its non-executive chairman.

Lucas was chief operating officer at McGrath between 2008 and 2016, and was instrumental in growing the company from its Sydney base, and in its transition from private to public company.

Most recently, Lucas held the position of chief operating officer at Sonoma Bakery Group.

Related content: Changes in the boardroom at McGrath, Domain

Executive director of McGrath, John McGrath, said “I am delighted to welcome Geoff back to the company, as he was instrumental in building McGrath over eight years to 2016 to now have 95 offices and an industry-leading team.

“Geoff has an intimate knowledge of property and the McGrath business, as well as a strong rapport with our agents, franchise partners and many industry participants. He also has a track record of helping us build our earnings when he was chief operating officer.

McGrath said the management team will now aim to "return the company to growth".

Lucas said, "I am excited to be re-joining industry leader McGrath."

"I’m excited to again lead a harmonised team to turn McGrath around after a challenging period for the company and the industry," he said.

Read more about McGrath:

Industry leader Michael Conolly returns to McGrath at "exciting time"

Changes in the boardroom at McGrath, Domain 

Sydney buyers "empowered" as cycle turns: Glenn Curran, McGrath