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ASCENDAS Hospitality Fund Management and Ascendas Hospitality Trust Management announced the retirement of chairman of the board and director Lim Neo Chian on Friday.
Following his retirement, Mr Lim will cease to be the chairman of the Boards of the Managers, chairman of the Nominating Committee, chairman of the Remuneration Committee and a member of the Investment Committee.
His retirement is part of the regular board renewal and rejuvenation process.
Miguel Ko has been appointed as chairman and non-executive director of the boards, while Chia Kim Huat has been appointed independent, non-executive director of the boards.
The changes take effect from July 15.
Ascendas Hospitality Trust rose 1.5 Singapore cents to 71.5 Singapore cents on Friday.