Diversified real estate company Gateway Lifestyle Group said Trent Ottawa resigned as CEO and director of its Gateway Lifestyle Operations Ltd. unit, effective Oct. 17.

The resignation followed the close of Hometown Group's off-market A$2.25-per-security takeover bid for Gateway Lifestyle Group. Trustees of Hometown Australia Management Pty. Ltd. and Hometown Australia Nominees Pty. Ltd.secured a 96.45% stake in the target group's stapled securities.

Ottawa founded Gateway Lifestyle Group in 2009 and served as the company's managing director since its listing on the Australia bourse in June 2015, according to a release.

Gateway Lifestyle further added that Kevin Tucker replaced Leanne Nolan as company secretary of Gateway Lifestyle Operations.