Jeffrey Perlman, the chairman of ESR Group Limited, the sponsor of Singapore Exchange (SGX)-listed ESR-LOGOS (E-LOG) REIT J91U , has stepped down as non-executive director of the REIT’s manager, ESR-LOGOS Funds Management (S) Limited.
In an SGX filing, Perlman cited his promotion to global president of Warburg Pincus as his reason for his cessation.
“With his new appointment and the increase in responsibilities and appointments at Warburg Pincus, [Perlman] will be stepping down from the board and the corresponding sub-committees of the board,” adds the filing.
Following Perlman’s resignation, Philip John Pearce, who is the alternate director, has also stepped down from his role. Pearce is the CEO of ESR Australia, an indirect subsidiary of ESR Group.
At the same time, Stuart Gibson, the executive director, group co-founder and co-CEO of ESR Group, has been appointed to the board of E-LOG REIT's manager as a non-executive director. Gibson comes with over 27 years of real estate development and investment experience in Asia.
Units in E-LOG REIT closed flat at 31.5 cents on Aug 30.
