Tan Swee Yiow has stepped back in as Chief Executive Officer at Keppel REIT Management, after Jesline Goh served just 28 days in the company’s top role.
The rapid management succession was revealed in an announcement to the stock exchange by the S$8.4 billion Singapore-listed real estate investment trust on 1 March.
Shortest Ever Appearance as a REIT CEO?
Former Perennial Real Estate Holdings and CapitaLand executive Jesline Goh had been announced as CEO of the REIT on January 9th, and took over her new duties on February 1st, as former CEO Ng Hsueh Ling rotated out to other management roles within the Singapore-listed conglomerate. Goh’s departure, which was announced by Keppel REIT on March 1st, was said to allow the 43-year-old “To pursue other career opportunities.”
Tan returns to the helm of the REIT manager as of March 20th, according to an announcement by Keppel REIT Management last week. Currently serving as both President of Keppel Land’s Singapore operation and Head of Keppel Land Hospitality Management, the 27-seven-year Keppel Land veteran previously served as CEO of the REIT from when it was first listed in 2006 until 2009.
Keppel REIT is one of the largest REITs listed on the Singapore Exchange with assets under management of $8.4 billion at the end of 2015. The trust’s portfolio includes 11 office towers in the central business districts of Singapore, as well as in Sydney, Melbourne, Brisbane and Perth in Australia.
A Veteran Pinch-Hitter?
“Swee Yiow has been associated with Keppel REIT and the Keppel Group for a long time, and had played an instrumental role during Keppel REIT’s inception and in the early years of its growth,” said Dr Audrey Chin, Chairman of the REIT manager. “His familiarity with Keppel REIT and its business operations, coupled with his expertise and in-depth knowledge of the real estate sector, will put the REIT in good stead to seize further opportunities for growth.”
Beyond his series of roles at Keppel Land, Tan is the First Vice President of the Singapore Green Building Council and a Member of the World Green Building Council’s Corporate Advisory Board. The graduate of National University of Singapore and Nanyang Technological University also serves as Honorary Secretary on the Management Council of Real Estate Developers’ Association of Singapore and the Workplace Safety Health Council (Construction and Landscape Committee).
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