SINGAPORE (June 6): Property group Frasers Centrepoint Limited has appointed Panote Sirivadhanabhakdi as Group CEO-designate with immediate effect.
Sirivadhanabhakdi will assume the role as FCL’s Group CEO on Oct 1 following incumbent Lim Ee Seng’s retirement on Sept 30, says FCL.
“Panote Sirivadhanabhakdi brings with him over 15 years of corporate leadership and senior management experience, including nine years as CEO of SET-listed real estate company – Univentures Public Company Limited,” says FCL.
“A member of the FCL Board since March 2013, he has been involved at the Board-level in all the major initiatives undertaken by the Group in the last three years. In particular, he worked closely with Lim on progressing many of the strategic initiatives of the Group, including the acquisition of Australand and the listing of Frasers Hospitality Trust,” it adds.
Panote is the youngest son of Thai billionaire Charoen Sirivadhanabhakdi, the controlling shareholder of FCL.
Among the other organisational changes announced by the group this morning, Chia Khong Shoong has been appointed to the newly-created role of Chief Corporate Officer (CCO) with effect from July 1, in addition to his current role as FCL’s CFO.
As CCO, Chia will oversee several critical corporate responsibilities, including group strategy and performance, as well as FCL's business process and solutions initiatives.
Meanwhile, a Singapore strategic business unit, which integrates the Singapore residential and commercial properties development and operations, will be set up with July 1.
Christopher Tang, who is currently CEO, Commercial and Greater China, will be appointed to the newly-created role of CEO, Singapore, with effect from July 1.
Rod Fehring and Choe Peng Sum will continue as CEOs of Australia and Hospitality SBUs, respectively.
Together, the three SBUs account for 90% of FCL's total assets.
FCL on Friday announced it has lodged the preliminary prospectus of Frasers Logistics & Industrial Trust with the Monetary Authority of Singapore for its proposed initial public offering and listing.
The offer units will be priced at between 85 cents and 89 cents each.
FCL shares closed at $1.60 on Friday.
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