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ARA Logos Logistics Trust's manager names new CEO; Daniel Cerf retiring on Aug 14
THE chief executive officer (CEO) of the manager of ARA Logos Logistics Trust (ALog), Daniel Cerf, is retiring on Aug 14 after nearly 11 years in the position.
From Aug 15, Karen Lee Kiah Ling will assume the role of CEO of the manager. She has been appointed CEO designate during the interim period with effect from Tuesday, the trust's manager said in a bourse filing on Tuesday morning.
Ms Lee's appointment is subject to approval from the relevant authorities. The manager will make an announcement once approval is received, it said.
ARA group CEO John Lim said Mr Cerf "helped to significantly grow ALog’s logistics portfolio since its IPO (initial public offering)".
He added that Ms Lee would "lead ALog into the next phase of growth" with her "extensive experience in the logistics real estate sector and qualifications".
"As an established manager of ALog, the team will ensure a smooth transition during this period," Mr Lim added.
Ms Lee has over 20 years of experience in the real estate industry. Her last position was head of asset and investment for Logos SE Asia.
ALog's manager is a wholly-owned subsidiary of Logos. ARA group is also a majority shareholder of Logos, which operates ARA’s global logistics real estate platform.
From May 2011 to November 2018, Ms Lee was head of Singapore portfolio and asset management of Ascendas Funds Management, the manager of Ascendas Real Estate Investment Trust.
From September 2008 to April 2011, she was with Ascendas Services, focusing on asset management.
Units of ALog ended Monday at 57.5 Singapore cents, up 0.5 cent or 0.9 per cent.