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Stephen Riady's son to lead OUE hospitality division

THE son of Indonesian tycoon Stephen Riady became chief executive of OUE's hospitality division on Wednesday, according to a bourse filing from the company.

Brian Riady, a 28-year-old Singapore resident, will be responsible for "managing all aspects of the business of the hospitality division" at OUE, where his father is executive chairman and a substantial shareholder.

The board said in the filing that the appointment, which was "approved in accordance with the company's limits of authority put in place by the board", took into account Mr Riady's qualifications and experience.

Mr Riady, a former Credit Suisse analyst, was most recently the CEO of lifestyle and entertainment at his family's Lippo Group.

The filing disclosed that Mr Riady has no prior experience as the director of a listed company, without giving details of any training undertaken.

OUE closed flat at S$1.40 before the announcement.

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