News: Former Ascott chief takes up leadership of CapitaLand

CapitaLand has announced Lee Chee Koon will take over as chief executive of the company.

Lee Chee Koon will head a leadership team, including Jason Leow Juan Thong as president of Asia and retail and Lucas Loh Jen Yuh as president, China and investment management, that will guide the company through its new phase.

Ng Kee Choe, chairman of CapitaLand said: “The board has continually worked with the management team on succession planning and deepening of bench strength to build a robust talent pipeline.

“After a very thorough and systematic review process, the board is pleased to put in place leaders with the best fit and capability to chart CapitaLand’s next phase of growth.

“Chee Koon, Jason and Lucas are key members of the management team and have been instrumental in developing and executing the Group’s growth strategy.

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“Led by Chee Koon, the team’s combined competencies and experiences will benefit CapitaLand greatly.”

After stepping down as president and group chief executive on September 15th, Lim Ming Yan will continue to serve as a board director of the company until the end of December.

Lee Chee Koon is currently the group chief investment officer of CapitaLand.

He joined the company in February 2007 and has held several appointments within the group, including as chief executive of The Ascott, CapitaLand’s wholly-owned serviced residence business.

Lee brings a wealth of experience in operational strategy, corporate business development and a strong track record in developing partnerships.

Over a four-year period from 2013, he successfully led Ascott’s recovery in profits, significantly grew its revenues and oversaw its unprecedented expansion.

Lee said: “I am deeply honoured to have this opportunity to lead CapitaLand in its next phase of growth.

“Ming Yan has built a strong foundation for expansion.

“I will build upon it to bring CapitaLand forward and to achieve greater returns to shareholders.

“I look forward to working with a very experienced board and our dedicated colleagues at CapitaLand to shape a greater future for the group.”

CapitaLand is one of Asia’s largest real estate companies.

Headquartered and listed in Singapore, it is an owner and manager of a global portfolio worth over S$ 93 billion as of June 2018, comprising integrated developments, shopping malls, serviced residences, offices, homes, real estate investment trusts and funds.

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