The managers of Ascott Residence Trust (ART) have appointed Serena Teo Joo Ling as its CEO and executive non-independent director.
Teo will replace outgoing CEO Beh Siew Kim, whose last day is on July 1.
Teo was appointed as the trust’s deputy CEO on Nov 15, 2021. Her appointment as CEO and executive non-independent director, as well as Beh's cessation is part of the regular succession and leadership renewal process.
Teo comes with over 25 years of experience in both the private and public sectors. Prior to joining ART, Teo had been with the Ascendas group for over 10 years.
She was previously the head, portfolio management for the manager of Ascendas REIT and was responsible for formulating and executing business strategies to maximise the income and asset value of the REIT’s properties.
Units in ART closed flat at $1.14 on June 30.
