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Mon, November 23, 2020 – 8:47 am
UPDATED Mon, 23 Nov 2020-11:02 am
KEPPEL Corp announced on Monday a series of leadership changes in some of its key business units, including the property, infrastructure and investment branches.
Effective February 15 of next year, the changes are part of succession planning and renewal of conglomerate leadership.
These “next generation” leaders are part of the team that formulated the group’s Vision 2030 plan that was unveiled in May this year.
They are “ready to take on more important roles and I am confident that they will bring new ideas and perspectives to our business units and guide them on their growth trajectories towards Vision 2030,” said Loh Chin Hua, Chief Executive Officer (CEO) of Keppel Corp and President of Keppel Infrastructure and Keppel Land.
- Keppel Land Chief Operating Officer (COO) Louis Lim will succeed Tan Swee Yiow as the unit’s CEO. Lim, 48, had been the director of strategy and group development for Keppel Corp and, at the same time, managing director of Technology and Innovation for Keppel. Prior to joining the group, Mr. Lim was a partner at Bain & Co. Current Keppel Land CEO Mr. Tan will be appointed Senior Managing Director for Urban Development at Keppel Corp, and will remain on the boards of Keppel Land and Keppel Reit Management.
- Keppel Land China Chairman Ben Lee will be appointed at the same time as Keppel Land COO, succeeding Lim. Lee, 48, has worked in the real estate industry, especially in China, for more than 15 years.
- Keppel Infrastructure CEO Ong Tiong Guan is retiring and will be replaced by Cindy Lim, who is Group Corporate Development Director of Keppel Corp and Managing Director of Keppel Urban Solution. Ms. Lim, 43, has held a variety of leadership roles in the group, including the group’s general manager of human resources and the executive director of infrastructure services for Keppel Infrastructure. The group will announce the appointment of a new director of Keppel Urban Solutions to replace Ms Lim. Dr. Ong, who has spent more than two decades with the group, will be appointed as an advisor. He will remain on the board of directors of Keppel Infrastructure.
- Keppel Capital Alternative Asset (KCAA) CEO Bridget Lee will be appointed concurrently as COO of the group’s asset management division, Keppel Capital. At KCAA, he spearheads Keppel Capital’s efforts to invest in new platforms and initiatives. Ms. Lee, 49, has more than 20 years of experience in investment, corporate finance, as well as mergers and acquisitions (M&A) in investment companies and financial institutions in Asia and the United States. Before joining the Keppel group, Ms. Lee spent over 12 years at Mapletree Investments and Temasek Holdings.
- Anthea Lee, 46, Keppel DC Reit’s Deputy CEO and Chief Investment Officer, will take over as CEO there, once regulatory approvals are obtained. She replaces Chua Hsien Yang.
- Chua Hsien Yang, who is now CEO of Keppel DC Reit Management, will become the new head of group mergers and acquisitions at Keppel Corp. Chua, 43, has extensive experience in the real estate and hospitality fund management industries. In his new role, he will drive Keppel Corp’s “more precise and disciplined M&A strategy and refocus the group’s portfolio on sustainable urbanization solutions, as part of Vision 2030,” said Keppel.
- Leadership positions in the group that remain unchanged include Keppel Offshore & Marine CEO Chris Ong and the unit’s CFO Kevin Chng, as well as Keppel Reit Management CEO Paul Tham. They were among the business leaders who participated in the development of Vision 2030.
At 10:37 a.m. on Monday, Keppel Corp’s shares rose two cents to S $ 5.17.
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