CEO of United Hampshire US Reit manager to step down, CFO to take over

GERARD Yuen, the chief financial officer of United Hampshire US Reit Management, will step up as the company’s new chief executive from May 1.

He will succeed current chief executive Robert Schmitt, who is stepping down for health reasons, the Reit manager announced in a Thursday (Mar 30) bourse filing.

Yuen was appointed CFO prior to the listing of United Hampshire US Reit in March 2020, and had helped with its initial public offering. Prior to that, he was a managing director with Nomura Singapore.

“Gerard and the team have been with the Reit since it was established, and we are confident of a smooth transition guided by an experienced and committed management team,” said the company’s chairman Tan Tong Hai.

Winnie Yap, the Reit manager’s finance director, will take over from Yuen as CFO. She has more than 19 years of experience in various financial and accounting functions.

United Hampshire US Reit closed at US$0.47 on Thursday, up 4.4 per cent.