Current CEO Tony Tan will take on the role of chief corporate officer of CapitaLand Development
[SINGAPORE] The manager of CapitaLand Integrated Commercial Trust (CICT) on Monday (Mar 17) announced the appointment of current deputy chief executive officer Tan Choon Siang as CEO and executive non-independent director from May 1.
Tan Choon Siang, 48, will also be appointed as a member of the executive committee (EC).
He succeeds current CEO Tony Tan, 57, who will take on the role of chief corporate officer of CapitaLand Development from May 1.
Tony Tan will cease to be an executive non-independent director and a member of the EC.
He has served as the CEO and executive director of CICT’s manager since 2017. He led the merger of CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020 to create CICT, Singapore’s largest listed real estate investment trust with a market capitalisation of S$15.5 billion.
The manager noted that Tan Choon Siang’s appointment as CEO and executive director “is part of the succession planning and leadership renewal process of the company”. He was appointed as deputy CEO of CICT’s manager on Feb 1.
He was previously CEO and executive director of the manager of CapitaLand Malaysia Trust. He has more than 22 years of experience in financial management, investment, corporate finance, treasury and investment banking.
Units of CICT closed 0.5 per cent or S$0.01 lower at S$2.12 on Monday.
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