Frasers Hospitality's CEO to retire on Oct 1

FRASERS Hospitality's chief executive Koh Teck Chuan will be retiring on Oct 1, and will thereafter relinquish all management duties he holds within the Frasers Property group.

Panote Sirivadhanabhakdi, Frasers Property's group chief executive, will oversee Frasers Hospitality, with Mr Koh supporting the handover and transition process over the next five months till his retirement, said the group in a bourse filing on Friday morning.

Said Mr Koh: "It has been an honour to lead the Frasers Hospitality business over the last two years. Throughout this time, I have been humbled by the commitment and hard work of our teams, and their passion for creating a company focused on inspiring experiences, especially as we navigate through the Covid-19 challenges."

Mr Koh had joined Frasers Property in February 2019. As chief executive of Frasers Hospitality, he is responsible for the group's hospitality business, from investment and business development to global expansion of its chain of serviced residences and hotels worldwide.

Mr Sirivadhanabhakdi said: "Teck Chuan has been instrumental in the evolution of Frasers Hospitality, especially with his financial and real estate experience. He has developed not only an organisational structure aligned with our business goals, but also invested in our people.

"He leaves a more agile and resilient organisation, even as we continue to manage through the Covid-19 pandemic situation."

Shares of Frasers Property closed up S$0.02 or 1.64 per cent at S$1.24 on Friday.