A board move at Hong Kong’s largest developer leads this week’s collection of personnel moves from around Asia as a former brokerage chief takes his leave. Also making the list are board moves at China’s Country Garden and Japan’s Tokyo Tatemono.
Hong Kong’s largest developer by market capitalisation, Sun Hung Kai Properties Ltd, announced to the stock exchange on 1 November that Albert Lau Tak-yeung will not seek re-election to the company’s board at its annual general meeting. The former Savills executive had first been named to Sun Hung Kai’s board in 2022, and is said to be leaving to devote more time to family and personal commitments, with his departure effective from 30 November.
Country Garden Holdings informed the Hong Kong stock exchange on 3 November that Su Baiyuan has resigned from his executive director role with the mainland development giant with effect from 1 November. In the same announcement the Guangdong-based company said that its independent, non-executive director To Yau Kwok also resigned from 1 November. Both executives are said to have left without disagreement with the company.
Japanese developer Tokyo Tatemono informed the stock exchange on 7 November that its has promoted Katsuhito Ozawa to president and chief executive officer at a board meeting that same day. Now 60, Ozawa has been with Tokyo Tatemono since 1987 and has served as senior managing executive officer and representative director of the company since March of last year. Incumbent president and CEO Hitoshi Nomura has shifted to the chairman role.
Embassy Office Parks REIT announced on 7 November that it has appointed Ritwik Bhattacharjee as interim chief executive officer with immediate effect. The move promotes Bhattacharjee from chief investment officer with the executive having served at Embassy REIT since its establishment by Blackstone and India’ Embassy Group. India’s financial regulator, SEBI, had instructed the manager of Embassy REIT on 5 November to dismiss its chief executive Aravind Maiya and appoint an interim CEO after the incumbent executive was found to have violated accounting rules in an earlier role.
Powerlong Commercial Management Holdings informed the Hong Kong stock exchange on 1 November that its executive director and chairman Hoi Wa Fong has taken on the additional role of chief executive officer with effect from that date. Hoi took on the CEO role after incumbent Chen Deli resigned from his leadership of the property management division of mainland developer Powerlong Real Estate Holdings Ltd, with Chen having also left his management roles with that company.
The manager of Singapore-listed IREIT Global announced to the Singapore stock exchange on 5 November that it has appointed Peter Viens as the REIT’s new chief executive officer and as a non-executive director on its board of directors with immediate effect. Viens takes on the CEO role as former helmsman Louis d’Estienne d’Orves transitions to a non-executive director position with the European-focused trust and relocates to Singapore.
Genting Singapore announced to the SGX on 2 November that Andrew MacDonald has stepped down from his positions as a director and chief casino officer of Resorts World Sentosa with effect from the previous day. In August MacDonald had declared in a LinkedIn post that he had been issued a persona non grata notice from Marina Bay Sands for allegedly attempting to poach top gamblers away from the competing casino. MacDonald who had served with Marina Bay Sands for over a decade before joining Genting in 2022 refuted the position taken by his former employer.
Dennis Ng announced on LinkedIn this past week that he has stepped down from his role as chief executive officer of Vietnamese developer Novaland. Formerly CEO of Malaysian developer Gamuda Land in Vietnam, Ng had stepped into the leadership role at Novaland in March of last year as the local developer struggled to restructure debt amid Vietnam’s real estate crisis.
If you know of other Asia real estate professionals changing their jobs, getting promoted or just doing something exciting, please contact us here at Mingtiandi.
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