Property giant CapitaLand Group has reshuffled its senior management with a string of key appointments.
Lim Ming Yang, the chief executive officer (CEO) of The Ascott, CapitaLand’s serviced residence business, will relinquish his role to focus on his position as the group’s chief operating officer.
He will oversee major group-wide strategic projects and continue to build on the group’s businesses in China, its fastest growing core market.
Chong Kee Hiong, currently the CEO of Ascott Residence Trust Management, will replace him.
Meanwhile, Lee Chee Koon will be appointed as deputy CEO of Ascott and will assist Mr Chong in the strategic planning and investment of the serviced residence business.
In other appointments, Olivier Lim, the current head of strategic corporate development, has been promoted to assume responsibilities as the group’s chief investment officer (CIO).
He is also the chairman of Australand, a CapitaLand subsidiary listed in Australia.
Concurrently, Chong Lit Cheong, CEO of CapitaLand Commercial, has been appointed to the Board of Surbana.
Mr Chong has also been appointed as a member of the Management Committee and Audit Committee of Surbana.
Meanwhile, Wen Khai Meng will step down from his role as the group’s CIO and focus on his appointment as CEO of CapitaLand Financial (CFL).
Mr Wen will drive CFL’s business to expand fund management and other financial services for the real estate industry.
The group’s chief corporate officer, Jeannie Chua, will retire from her executive role in CapitaLand but has agreed to stay until July 2012 to assist in the transition.
Source : Channel NewsAsia – 3 Feb 2012