Higher education figure Annie Koh appointed chairman of Prime US Reit's manager

SINGAPORE Management University's Professor Emeritus of Finance (Practice) Annie Koh has been appointed the chairman of Prime US Reit's OXMU manager.

The appointment was made due to the real estate investment trust's (Reit) "increased focus on independence of board leadership", the Reit manager said in a bourse filing on Friday (Feb 25).

Koh, who last held the position of lead independent director at the Reit, takes over the position from Charles Jay Schreiber, who is affiliated with Prime US Reit sponsor KBS Asia Partners, with effect from Thursday (Feb 24), it pointed out.

Schreiber, who is chief executive officer of KBS Realty Advisors, ceased to be chair and director at Prime with effect from Wednesday, it added.

The Reit manager described Koh as a "pre-eminent figure in Singapore higher education".

She brings to the role a wealth of experience from her board and advisory positions across a number of listed and private corporates, start-up enterprises, multilateral agencies, and Singapore government entities, it added.

The manager also stated that Koh's experience and leadership in environmental, social and governance (ESG) will continue to be a significant resource to Prime as the board sees ESG as an "important component" of the Reit's future growth initiatives.

The board will, in due course, announce the appointment of a new director to replace Schreiber, and a new chair of the audit and risk committee to replace Koh in the role, it said.

Units of Prime US Reit closed flat at US$0.76 on Friday.