CapitaLand has announced changes to the board composition of its integrated commercial trust (CICT) in a bid to strengthen its senior management team. Tan Choon Siang, currently the deputy CEO of the company, will take over as CEO and executive non-independent director from May 1, 2025. He will also be a member of the executive committee (EC). At the same time, current CEO Tony Tan will step down from his role as executive non-independent director and EC member and assume the position of chief corporate officer at CapitaLand Development. Tan has been with CICT since 2017.Under Tan’s leadership, CICT underwent a successful merger of CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020, creating Singapore’s largest listed REIT with a market capitalization of $15.5 billion. The incoming CEO, Tan Choon Siang, has a strong background in the industry, having previously managed CapitaLand Malaysia Trust from 2012 to 2022 and served as chief financial officer for the manager of CapitaLand India Trust. He also held the position of Head of Corporate Finance & Treasury at Ascendas-Singbridge, which merged with CapitaLand in 2019.
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