ESR-Reit names Stefanie Yuen Thio as chair in place of Ooi Eng Peng from July 1
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THE manager of ESR-Reit on Thursday announced that it was redesignating its independent non-executive director, Stefanie Yuen Thio, to independent chairperson with effect from July 1.
Ms Thio succeeds Ooi Eng Peng, who will be redesignated as non-executive director after close to nine years of service to assume the new role of the Reit (real estate investment trust) manager's deputy chairman.
While Mr Ooi will continue guiding the Reit on its growth strategies in his new capacity, he will relinquish his role as chairman of the nominating and remuneration committee (NRC) while continuing as a member of both the NRC and the audit, risk, management and compliance committee (ARCC).
He will remain as the chairman of the Reit's executive committee, while Ms Thio will also continue her duties as a member of the ARCC.
Ronald Lim will be appointed as the chairman of NRC to succeed Mr Ooi.
Following the latest reshuffle, ESR-Reit's board will comprise 10 directors including four independent directors.
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Units of ESR-Reit ended Thursday S$0.02 or 4.88 per cent up at S$0.43, after the announcement was made.
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