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New CapitaLand CEO named; Cromwell exec moves to Cromwell European REIT


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New CapitaLand CEO named; Cromwell exec moves to Cromwell European REIT

S&P Global Market Intelligence presents a weekly rundown of recent significant management and board changes and personnel moves in the Asia-Pacific real estate industry. The moves are listed by sector and by announcement date in reverse chronological order. The Europe and North America Hires and Fires columns will be published Wednesday and Thursday, respectively.


* Cai Fengjia was installed Sept. 3 as executive director of KWG Group Holdings Ltd., previously known as KWG Property Holding Ltd., replacing Li Jianming, who stepped down due to other business and personal commitments.

* Zhao Peng and Gu Hongmei joined Financial Street Holding Co. Ltd.'s board as nonindependent directors after the two's election at an Aug. 23 extraordinary general meeting of the company.


* Ivory Properties Group Bhd. named Low Wei Shane to its board as executive director, with effect from Sept. 3.

* Atrium Real Estate Investment Trust said Chng Boon Huat was appointed as an independent nonexecutive director, effective Sept. 1.

* Lee Hui Yeow resigned Aug. 31 as alternate nonindependent nonexecutive director of CapitaLand Malaysia Mall Trust.

* Majuperak Holdings Bhd. designated Mohd Ariff Bin Yeop Ishak as its new chairman, effective Aug. 28. The new chairman also stepped down as a member of the remuneration committee, and Mohamed Shafeii Bin Abdul Gaffoor replaced him in the role.


* Simon Garing resigned as chief capital officer of Cromwell Property Group to be the acting CEO and executive director of Cromwell European REIT's manager, effective Sept. 3. Garing assumed the positions from Philip Levinson, whose resignation took effect Sept. 2.

In addition, Elena Arabadjieva was appointed as Cromwell European REIT's COO, also effective Sept. 3.

* Chan Tung Moe resigned as executive director and chief development officer of Singapore eDevelopment Ltd. Aug. 31 for other career opportunities.

* Ng Jui Ping stepped down as independent director of Yanlord Land Group Ltd., with effect from Aug. 31, citing board rejuvenation as reason. Hong Pian Tee was appointed as nonexecutive director the next day.

* As Group CEO Lim Ming Yan is set to retire by the end of 2018, CapitaLand Ltd. Group Chief Investment Officer Lee Chee Koon is taking over the top post, effective Sept. 15.

Group COO Jason Leow Juan Thong will become president of Asia, excluding China, and retail; while Lucas Loh Jen Yuh, CEO of CapitaLand China, will take on the role of president of China and investment management.


* Sophie Ng replaced Eduard Jalandoni on the board of ATN Holdings Inc. following the Sept. 3 resignation of the latter from the directorship role.

Hong Kong

* Star Properties Group (Cayman Islands) Ltd. redesignated Pong Kam Keung to executive director from nonexecutive director, effective Sept. 1.

* Hopson Development Holdings Ltd. named Xi Ronggui as new CEO and executive director, starting Sept. 1.

* James Sing-Wai Wong, a former Chinney Investments Ltd. nonexecutive director, returned to the company's board Aug. 28 as an executive director.


* On Sept. 1, Clive Appleton joined the board of Vicinity Centres as a nonexecutive director, the appointment of whom will be voted on at a Nov. 1 meeting.

* Emma Spear joined Rural Funds Group's manager as company secretary, with effect from Aug. 31, replacing Andrea Lemmon, who will leave the manager in October after 21 years.

* LionHub Group Ltd. appointed Siew Goh as a director, according to an Aug. 29 release.


* Kali Charan Agarwal started serving in the board of Unitech Ltd. Aug. 29 as a nonexecutive independent director.

* Kamanwala Housing Construction Ltd. said Dharmpal Sharma requested in an Aug. 22 resignation letter that he be relieved of his duties as company secretary and compliance officer.

* Shri Dipen Dalal became the company secretary and compliance officer of Radhe Developers (India) Ltd. Aug. 28.


* Nippon REIT Investment Corp.'s asset manager said Masataka Nogi stepped down Aug. 31 as a director. Kinji Kaiho, meanwhile, was appointed at the asset manager as part-time director, which took effect Sept. 1.


* Thanisorn Nitisaropas resigned Aug. 14 as company secretary of Thanasiri Group PCL. Wipanun Yamkhum was named as Nitisaropas' replacement, also effective on the same date, according to an Aug. 28 filing.

* J.S.P. Property PCL named Pairoj Wattanawarodom as an adviser to the CEO, with an Aug. 27 effective date. Likhit Luesakulkitpaisal also took on the role of acting operation managing director on the same day.