ERA Realty promotes COO Marcus Chu to CEO

ERA Realty, a wholly-owned subsidiary of mainboard-listed APAC Realty, will be promoting its current chief operating officer (COO) Marcus Chu to chief executive officer (CEO) with effect from July 1.

Mr Chu will be succeeding current CEO Jack Chua, who will continue to seek out expansion opportunities as APAC Realty's executive chairman, said the company in a press statement.

The separation of the chairman and CEO roles is intended to enhance the company's corporate governance, APAC Realty said in an exchange filing on Monday.

Mr Chua, who will be providing guidance to Mr Chu, said: "Marcus has played a critical role in the group's growth and achievements and we are confident that he has the right attributes to lead and advance our strategic growth plans for Singapore and the region."

As CEO, Mr Chu will be taking over the helm of the Singapore headquarters and overseeing the business operations as well as day-to-day management of ERA Singapore.

ERA Singapore said during his 25 years in the company, Mr Chu has spearheaded ERA's digitisation initiatives, such as its new customer relationship management tech tool, mobile application and search portals.