Mapletree Industrial Trust manager’s CFO to become CEO in July

THE chief financial officer of the manager of Mapletree Industrial Trust (MIT), Lily Ler, will replace Tham Kuo Wei as chief executive officer and executive director of the Reit’s manager.

In bourse filings on Thursday (May 30), the Reit’s manager said Tham will resign and be transferred to Mapletree Investments – the Reit’s sponsor – “to assume new responsibilities”.

This will take place on Jul 22. Consequently, Ler will step down from her role as CFO and take over Tham’s positions.

Khoo Geng Foong will replace Ler as CFO of MIT’s manager. She is currently the head of treasury at Mapletree Logistics Trust Management, the manager of Mapletree Logistics Trust.

Tham joined the Mapletree group in 2002 and has held various positions with the organisation. Before he became CEO and executive director, he was the deputy CEO and chief investment officer of Mapletree’s Industrial business unit.

Ler has been CFO of MIT’s manager since November 2011. Before joining MIT, she was the head of treasury and investor relations at Mapletree Logistics Trust Management.

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Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters

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Units of MIT closed at S$2.19 on Thursday, up S$0.01 or 0.5 per cent, before the announcements.