CEO of Ascott Residence Trust’s managers to be redesignated in leadership renewal

BEH Siew Kim, chief executive and executive director of the managers of Ascott Residence Trust (ART), will relinquish her position from Jul 1 (Friday) to assume another senior management role within CapitaLand Investment or its subsidiaries. She will be replaced as chief executive by Serena Teo Joo Ling, who will also be appointed executive director and a member of the executive committee. She was deputy chief executive of the managers of ART in November 2021.

This is part of the regular leadership renewal process of the managers – Ascott Residence Trust Management and Ascott Business Trust Management – ART said in a Thursday (Jun 30) bourse filing.

Beh will also be redesignated as a non-executive, non-independent director of ART’s managers, taking over from Andrew Geoffrey Lim Cho Pin, who steps down on Jul 1.

Beh will remain a member of the executive committee. Appointed to her role at ART’s managers in 2017, she was responsible for strategic planning and the business, operational and investment strategies of the stapled hospitality group.

The stapled securities of ART closed flat at S$1.14 on Thursday.