Temasek Singapore President Png Chin Yee is set to join the board of Capita Land Investment Ltd., while Chairman Miguel Ko is retiring from the real estate asset manager. Png’s appointment as a non-independent director is effective from Jan. 1, Capita Land said in an exchange filing late Thursday, confirming an earlier report by Bloomberg News. Ko will be replaced on the same date by Hsieh Fu Hua, a former Temasek president who was appointed to the board as deputy chair in August.
“As CLI enters its next phase, our CEO, Lee Chee Koon, has my full support,” said Hsieh in a statement, referring to the firm by its common acronym. Hsieh, 75, who also sits on Singapore sovereign wealth fund GIC Pte’s board, said he will work closely with Lee and the management team “to address our strategic priorities and execute them with discipline.”
Ko will retire at the end of the year, along with director Gabriel Lim, a former civil servant who is now CEO of Temasek asset management arm Seviora Holdings, after they both complete their terms.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing