Mapletree Industrial Trust (MIT) CEO Tham Kuo Wei will leave his role on July 22, and current CFO Ler Lily will be the new CEO.
Meanwhile, the present head of treasury at Mapletree Logistics Trust Khoo Geng Foong will take over as the new CFO.
Similar to his colleague Ng Kiat, who stepped down recently as CEO of Mapletree Logistics Trust M44U , Tham will be posted to another new role within Mapletree Investments.
Outgoing CEO Tham was “instrumental” in the listing of MIT in October 2010, and led the trust’s expansion into the data center sector in North America and Japan. He was also key in driving MIT’s development strategy to grow the hi-tech buildings segment in Singapore, the release from MIT reads.
Units in MIT closed 1 cent higher or 0.459% up at $2.19 on May 30.
