CapitaLand President and Chief Executive Officer Liew Mun Leong will retire in a year’s time when he turns 67, South-east Asia’s biggest listed developer said yesterday.
Mr Liew became chief executive of CapitaLand in 2000 after the company was created through the merger of Government-owned Pidemco Land and DBS Land. CapitaLand said a board succession committee would review the internal and external candidates to succeed him when he retires on June 28 next year.
An external headhunter has been appointed to find a successor and one is likely to be named within three to six months, Mr Liew said at a news conference.
“This is in line with the group’s succession planning process. Retirement has never been on my agenda. I will not be retiring from work but from the group as president and CEO,” he said.
Unlike the heads of many Government-linked firms, Mr Liew is outspoken and last month created a stir in Singapore when he described the increasingly popular shoebox-sized apartments as “almost inhuman”.
His planned departure comes amid management changes. In the past year, the developer named a new chief financial officer and swapped jobs of senior managers, including the head of its serviced apartments unit.
Source : Today : 23 Jun 2012