Anthony Ang to retire as CEO of Sasseur Reit's manager; Cecilia Tan to step up

SASSEUR Reit's manager announced on Friday that its CEO Anthony Ang Meng Huat will be retiring and stepping down after more than four years, to be replaced by Tan Hong Lye, Cecilia from Aug 1, 2021.

Ms Tan will join the manager as the CEO-Designate on July 1, 2021 and will officially assume the CEO position on Aug 1, 2021. Mr Ang's last day of service will be July 31, 2021. He has been CEO since March 2017.

Ms Tan will relinquish her current role as the senior strategic adviser to Vito Xu in his capacity as chairman of Sasseur Group prior to assuming this new appointment. She was first appointed to this role in July 2019.

Real estate veteran Ms Tan has over 15 years of related experience and expertise in cross-border real estate investment, real estate fund management, listing of and management of Reits. A former investment banker, she is well acquainted with public equity and debt capital markets, said Sasseur Reit's manager in a statement.

She also served in several leadership roles as chief executive officer, chief financial officer, chief investment officer and managing director during the course of her career in various real estate focused organisations such as KOP.

The manager has received the requisite approval from the Monetary Authority of Singapore for its appointment of Ms Tan as the new CEO.

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Sasseur Group's chairman Mr Xu thanked outgoing CEO Mr Ang for his contributions.

On Ms Tan's appointment, he said: "The board is confident that with her extensive experience in the real estate sector and deep knowledge of the Reit market, she will lead Sasseur Reit into the next phase of growth."

Units of Sasseur Reit closed flat at 90.5 Singapore cents on Friday, prior to the announcement.