Global Logistic Properties deputy chairman, co-founder Jeffrey Schwartz dies, aged 55

THE co-founder and deputy chairman of Straits Times Index component Global Logistic Properties (GLP), Jeffrey Schwartz, has died on Nov 19, 2014. He was aged 55, according to the company's website.

The logistics property company announced his death in a press release on Thursday morning.

Said Ming Mei, GLP co-founder and CEO: "We are all deeply saddened by the death of my mentor, my partner, and most importantly my closest friend. His vision was key in making GLP the company that it is today.

"I am honoured to continue his legacy. He will be greatly missed by our company, its stakeholders, our employees and the industry overall."

Chairman Seek Ngee Huat said that Mr Schwartz was a well-respected and determined leader.

Global Logistic Properties said earlier in November that Mr Schwartz would be taking time off work to focus on his health.

The counter closed up a cent to S$2.56 on Wednesday trading before the latest announcement.