Lim Ming Yan, president and group CEO of CapitaLand, to retire on Dec 31

LIM Ming Yan, the president and group chief executive officer (CEO) of mainboard-listed CapitaLand, will retire from his appointments on Dec 31, 2018, the company said on Friday evening.

Mr Lim, 55, who joined CapitaLand in 1996, had given notice to the company's board of his intention to retire and the board has accepted his notice.

CapitaLand said: "Mr Lim will remain president and group CEO until his retirement takes effect and will be working closely with the board to achieve a smooth transition."

"The new president and group CEO appointment will be announced when the appointment is made," it added.

Upon his retirement, Mr Lim would have served CapitaLand for more than 22 years, including six years as its president and group CEO, roles he has held since Jan 1, 2013. He had taken over from CapitaLand's founding CEO Liew Mun Leong.

Prior to his appointment as president and group CEO, Mr Lim was CapitaLand's chief operating officer from May 2011 to December 2012.

He has also held other senior positions in the group, including the CEO of The Ascott Limited (July 2009 to February 2012), and prior to that, a nine-year stint in China as the CEO of CapitaLand China Holdings where he played a key role in establishing the group's footprint in China.

Ng Kee Choe, chairman of CapitaLand, said: "On behalf of the board, I thank Ming Yan for his many years of dedicated service and contributions to the CapitaLand Group. I wish him every success in his future endeavours."

Mr Lim said: "I have had the honour and the privilege of working with so many talented and dedicated colleagues at CapitaLand. Together we have accomplished a lot.

"CapitaLand is well positioned for the next phase of growth and I am committed to working closely with the board through this transition phase," he added.