ESR-Reit chief Adrian Chui to be CEO of ESR-Logos manager, Alog Trust chief to be deputy CEO

Uma Devi

Published Wed, Mar 16, 2022 · 09:33 PM

ADRIAN Chui, chief executive of ESR-Reit's manager, will be the chief executive of the manager of the combined entity following the merger of ESR-Reit and ARA Logos Logistics Trust (Alog Trust), the trust said on Wednesday (Mar 16).

The trust was responding to "substantial and relevant questions" it had received relating to the proposed merger between the two firms. These included queries on the roles of Chui and Karen Lee, chief executive of Alog Trust's manager, after the merger, as well as the proposed board composition of the merged entity.

ESR-Reit said its manager will be the manager of ESR-Logos Reit, and Lee will join the manager as its deputy chief executive.

The Reit said the nominating and remuneration committee of ESR-Reit's manager will also review the composition of its board of directors where appropriate, to align with the merged entity's future strategic direction, focus and corporate governance practices.

Such practices include compliance with Securities and Futures Act regulations, and guidelines by the Monetary Authority of Singapore relating to the independence of the directors on the board of the manager.

Units of ESR-Reit closed flat on Wednesday at S$0.42, while units of Alog Trust fell 1.2 per cent or S$0.01 to close at S$0.82.