Keppel Corporation has announced leadership changes for some of its key business units on Nov 23, which includes the change in CEOs for Keppel Infrastructure, Keppel DC REIT and Keppel Land.
The move comes as part of the group’s succession planning and leadership renewal.
According to a statement released via SGX, the next generation leaders are part of the team that formulated Keppel’s Vision 2030 and will lead the respective business units to fulfil the group’s common vision.
Louis Lim, who is the current Chief Operating Officer of Keppel Land, will succeed Tan Swee Yiow as CEO.
Lim was previously director of group strategy and development at Keppel Corporation and is also holding the post of managing director of Keppel Technology and Innovation.
Following the appointment, Tan will step down as CEO of Keppel Land. He will be appointed senior managing director of Urban Development at Keppel Corporation and will remain on the boards of Keppel Land and Keppel REIT management.
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Cindy Lim, director of group corporate development at Keppel Corporation and managing director of Keppel Urban Solutions, will take over Dr Ong Tiong Guan as CEO of Keppel Infrastructure.
Ong will retire from the Keppel Group and will be appointed as adviser. He will remain on the board of Keppel Infrastructure.
Keppel Corp says the appointment of the new head of Keppel Urban Solutions will be announced at a later date.
Bridget Lee, the CEO of Keppel Capital Alternative Asset (KCAA) will be concurrently named the Chief Operating Officer of Keppel Capital.
Ben Lee, president of Keppel Land China will be concurrently appointed the Chief Operating Officer of Keppel Land.
Anthea Lee, deputy CEO of Keppel DC REIT management, will take over Chua Hsien Yang as CEO of the manager of the REIT, subject to regulatory approval. Chua will be appointed director of group M&A at Keppel Corporation.
On the move, Loh Chin Hua, CEO of Keppel Corporation explains, “Leadership renewal is key to the long-term success of any company. We have been planning for leadership succession across our business units and grooming the next generation of leaders, including bringing them together to chart Keppel’s Vision 2030.”
“The next generation leaders are ready to take on bigger roles and I am confident that they will bring new ideas and perspectives to our business units and lead them on their growth trajectories in pursuit of Vision 2030,” Loh adds.
Loh, who is also the chairman of Keppel Infrastructure and Keppel Land, expressed his appreciation for the contributions of business leaders who will be stepping down on behalf of the group.
“I would like to thank colleagues who have contributed to Keppel in different ways, especially TG Ong and Tan Swee Yiow, for their leadership of Keppel Infrastructure and Keppel Land respectively. TG and Swee Yiow will remain on the boards of Keppel Infrastructure, as well as Keppel Land and Keppel REIT Management respectively, thus allowing the management teams to continue benefitting from their experience,” he says.
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“For more than 20 years, TG has played leading roles in Keppel’s energy and environment businesses. Under his leadership, Keppel Infrastructure has become a growing pillar of recurrent earnings for the Group, while contributing to a more sustainable world with an expanding portfolio of energy and environmental infrastructure solutions. I wish TG a happy retirement and look forward to his continued contribution to Keppel in his new advisory capacity.
“Swee Yiow has led various aspects of Keppel’s urban development and asset management businesses over the past three decades and played a pivotal role in building Keppel Land into the multi-faceted urban development company and leader in sustainability that it is today. As senior managing director of Urban Development, Swee Yiow will help to drive Keppel’s transformation from a conglomerate of distinct parts into one integrated business providing solutions for sustainable urbanisation, focusing on the Urban Development segment.”
All leadership changes will take effect from Feb 15, 2021.
Shares in Keppel Corp, Keppel DC REIT and Keppel REIT closed flat at $5.15, $2.89 and $1.06 respectively on Nov 20.
