Frasers Property Limited (FPL) has announced several key leadership changes aimed at simplifying the organisational structure to build a “more resilient and future-ready” group. The changes will be effective on Feb 1.
The news comes after FPL issued a statement on Jan 12 to deny any rumours that the company’s majority owners could sell the company or some of its assets as part of a strategic review.
“The group has grown rapidly over the years. After a decade of reshaping our portfolio and building competitive business platforms, we are entering the next phase of our journey. We will continue to focus on delivering long-term sustainable value creation and returns for the business. The organisational structure of the group needs to support the delivery of our strategy and goals,” says Panote Sirivadhanabhakdi group CEO of FPL.
“These leadership changes will enable us to draw deeper upon group synergies, strengthen business resilience, and build further upon our strengths from both a geography and asset class perspective. I am confident that my leadership team, with our strong strategic alignment, will be able to lead the organisation together as one enterprise, to deliver on our shared ambition to drive sustainable value to all our stakeholders,” he adds.
On Jan 15, FPL announced three promotions and two role expansions.
Anthony Boyd, who is currently the Sydney-based CEO of Frasers Property TQ5 Australia, will be made Group Chief Operating Officer, a newly-created role. Boyd will directly oversee the following key strategic areas for the group – group digital & technology, group investments, Frasers Property Capital, group strategic communications and branding and group procurement and supply chain.
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Vicki Ng was named as group Chief People Officer.
Cameron Leggatt, currently executive general manager, development at Frasers Property Australia, will be promoted to CEO of Frasers Property Australia. Leggatt will oversee Frasers Property’s development and investment operations in Australia across the mixed-use, residential, commercial and retail sectors. He is also responsible for the Australian investment property portfolio management.
Zheng Wanshi will be appointed to an the evolved and expanded FPL’s group chief strategy & sustainability officer from her current role as group chief strategy & planning officer. Zheng will be working with the group and the various business risks to integrate risk management and sustainability with the overall group strategy and to operationalise these across all areas of our business.
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Lim Hua Tiong, CEO for Frasers Property Vietnam and One Bangkok, will take on an expanded role of CEO, emerging markets, Asia. Lim will be tasked to build upon and create synergies across Thailand, Vietnam and China and key emerging markets that Frasers Property sees opportunities and potential in. Lim will also review the strategy to create and leverage on synergies across the overall Thailand platform with One Bangkok slated to open later this year.
Soon Su Lin, CEO for Frasers Property Singapore; Ilaria del Beato, CEO for Frasers Property UK; Reini Otter, CEO for Frasers Property Industrial; and Eu Chin Fen, CEO for Frasers Hospitality, will remain in their roles.
Meanwhile, Chia Khong Shoong, group chief corporate officer and Lorraine Shiow, CEO of Frasers Property China will be leaving FPL. Chia, who has been with the company for the last 15 years, will leave on March 1. Shiow, who has been with the company for 11 years, will leave on the same day.
“Both Khong Shoong and Lorraine have contributed to Frasers Property across several roles during their time with us. I would like to extend my gratitude to Khong Shoong and Lorraine for their dedication and achievements for Frasers Property, which have contributed towards building a foundation for the next phase of our business. It has been the board’s and my pleasure to work alongside both in different capacities over the years. We wish them well for their next chapter,” says Sirivadhanabhakdi.
These changes at Frasers Propery were announced just days after Thai Beverage Y92 (ThaiBev), which is controlled by the same Sirivadhanabhakdi family, announced its own slew of changes.
On Jan 10, ThaiBev named Thapana Sirivadhanabhakdi the director and group CEO of ThaiBev, a redesignation from his current role as ThaiBev's director, president and CEO. He has also been made vice chairman of the executive committee.
The group also appointed two presidents and group chief operating officers (COO) who will both report to ThaiBev's group CEO.
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Kosit Suksingha, ThaiBev's executive vice president, has been appointed as president and group COO - Thailand overseeing the group's operations within Thailand. Suksingha also holds other roles within the group, which are: Chief Non-Alcoholic Beverages Product Group, Chief Non-Alcoholic Beverage Business – Thailand, Chief Digital and Technology. He also remains as a member of the Executive Committee. Suksingha succeeds the role of group COO - Thailand from Ueychai Tantha-Obhas, who will be appointed as vice chairman of the executive committee.
Prapakon Thongtheppairot, also executive vice president at ThaiBev, will be appointed as president and group COO – International. In his new role, Thongtheppairot will oversee the group’s operations outside of Thailand, in addition to his current roles as group Chief Financial Officer (CFO) and Chief Spirit Product Group. He also remains as a member of the executive committee.
Dr. Pisanu Vichiensanth has also been appointed as vice chairman of the executive committee.
Other changes: Sithichai Chaikriangkrai will cease to be the Chief Investment Officer and Dr. Vichiensanth will cease to be the Chief Production Technology and Engineering.
The changes made to ThaiBev's leaders will be effective from June 27.
