AA Reit makes board changes

THE managers of AIMS AMP Capital Industrial Reit (AA Reit) on Friday said Tan Kai Seng will step down and relinquish his position as non-executive lead independent director effective from today.

Mr Tan has served on the board for more than nine years.

Norman Ip Ka Cheung, who is currently a non-executive independent director, will succeed Mr Tan and be redesignated as the non-executive lead independent director and chairman of the audit, risk and compliance committee.

The manager has also appointed Peter Heng as an independent director.

Mr Heng has over 30 years of investment management experience in leading companies such as NTUC Income Insurance Co-operative and Straits Lion Asset Management.