Paul Tham, the CEO of Keppel REIT’s manager will step down from his position on Oct 20 to “pursue other opportunities”.
The board says it is currently looking at potential candidates for the post. An announcement on Tham’s successor will be announced in due course.
Shirley Ng, the REIT manager’s deputy CEO and head of investment will step in as acting CEO in the interim.
Penny Goh, chairman of the manager, expressed her thanks to Tham for his contributions to the REIT.
See also: Analysts mixed on Keppel REIT despite positive 1H results
“With strong support from Keppel Capital and Keppel Land, the management team, led by Paul has done well in executing Keppel REIT’s active portfolio optimisation strategy over the last few years. These efforts have put Keppel REIT in a stronger position to deliver sustainable total returns to unitholders,” she says in a statement released on Aug 27.
“We will be appointing a CEO to lead Keppel REIT on its next phase of growth. The board and management team will continue to work closely with Keppel Capital and Keppel Land to build a resilient portfolio that can deliver stable distributions and long term value to unitholders,” she adds.
Units in Keppel REIT closed 1 cent lower or 0.92% down at $1.08 on Aug 27.
Photo: Keppel REIT