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EC World taps acting CEO; Mitsubishi Estate pursues organizational changes


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EC World taps acting CEO; Mitsubishi Estate pursues organizational changes

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.


* Goh Toh Sim was installed as acting CEO and executive director of EC World REIT's manager, with a Feb. 14 effective date. The move follows the departure of former CEO and executive director Alvin Cheng.


* Peter Lewis and Andrew Robinson are joining McGrath Ltd.'s board as nonexecutive independent directors, after the company overhauled its board and executive team. Lewis, who was also named nonexecutive chairman, and Robinson are working with Executive Chairman and Founder John McGrath to design a new corporate plan, which includes the company's senior management structure.

* Hilton Worldwide Holdings Inc. named Heidi Kunkel to be vice president of operations for Australasia, effective April 4, succeeding Sean Wooden, who will take on his previous role as vice president of brand management Asia Pacific.

* Michael Triguboff joined the manager of ALE Property Group, Australian Leisure and Entertainment Property Management Ltd., Feb. 15 as a nonexecutive director. Triguboff is a founding director at Adexum Capital Ltd..

* Lifestyle Communities Ltd. said nonexecutive director Jim Craig has left the company after joining the board in December 2012.


* Mitsubishi Estate Co. Ltd. made several appointments, executive promotions and alignment of duties in support of the organizational changes that the company will undertake, effective April 1.

Starting March 31, Executive Vice President Naoto Aiba and director Jo Kato will relinquish their duties as representative corporate executive officers. On the following day, Futoshi Chiba, Keiji Takano, Atsushi Nakajima and Yuji Fujioka will become senior executive officers. Yutaro Yotsuzuka, Naoki Umeda and Ryozo Kawabata will also become group executive officers.

In addition, Yutaka Yanagisawa and Isao Matsuhashi will resign as directors, with effect from June 30, and Tetsuji Arimori and Tetsuo Narikawa are being proposed to take on the directorship roles that will be vacant.

Hong Kong

* GR Properties Ltd. named Vivien To Tsz Wan to its board as independent nonexecutive director, with effect from Feb. 14 to replace Chui Tsan Kit, who left the company on the same day to give more time to his other business commitments.

* Independent nonexecutive director Cheung Wing Yui stepped down from Agile Group Holdings Ltd.'s board Feb. 13. Cheung also relinquished his respective roles as chairperson and member of the nomination and audit and remuneration committees.

Other geography

* Jörg Schröder, managing director of Alpha Industrial GmbH & Co. KG, is set to take on the role of chief investment officer at Frasers Property Europe, Frasers Property Ltd.'s European unit, upon completion of the two parties' asset and business deals worth 285.2 million.