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LMIRT reshuffles board of directors, appoints new chairman

LIPPO Malls Indonesia Retail Trust (LMIRT) announced on Friday that it will be shaking up its board of directors and board of committees with effect from Dec 31, 2019.

Ketut Budi Wijaya will leave his roles as chairman, non-independent non-executive director of the board, and as a member of the nominating & remuneration committee (NRC).

He will be succeeded by lead independent director Murray Dangar Bell as chairman. Mr Bell remains a member of the audit & risk committee and NRC.

Gouw Vi Ven will be redesignated from executive director of the board to non-executive non-independent director, and appointed a member of the NRC.

Liew Chee Seng James, CEO of the Reit manager, will be appointed executive director.

Mr Liew said that Mr Wijaya's "in-depth experience and knowledge of the Indonesia market" have been invaluable to LMIRT during his tenure, and thanked him for his contributions.

He also welcomed new chairman Mr Bell.

"Mr Bell has more than 30 years of experience in real estate management, primarily in shopping malls management in the Asia-Pacific and the Middle East regions. With his extensive experience in retail malls management, we look forward to his expertise and guidance," added Mr Liew.