SINGAPORE – CapitaLand Limited announced that Mr Peter Seah Lim Huat will retire from the position of an Independent Non-Executive Director and Deputy Chairman of the CapitaLand Board and not seek re-election at the upcoming Annual General Meeting to be held on 30 April 2015.
On the same day, he will also retire as Chairman of the Finance and Budget Committee, Chairman of the Nominating Committee and a member of the Executive Resource and Compensation Committee.
Mr Seah, aged 68, was appointed to the Board on 18 December 2001 and assumed the role of CapitaLand’s Deputy Chairman on 1 January 2009.
During his tenureship first as a Director and then as Deputy Chairman, Mr Seah has made invaluable contributions to CapitaLand including guiding it to become one of Asia’s largest real estate company.
Mr Seah has made outstanding contributions to the company over the last 13 years. Under his stewardship, particularly as Deputy Chairman of the Board, CapitaLand has grown from strength to strength to become one of Asia’s largest real estate companies.
“On behalf of the Board, I thank Peter for his commitment and dedication to the company throughout the years he has been with us. CapitaLand and I have greatly benefitted from his contributions and wise Counsel,” said Ng Kee Choe, Chairman of CapitaLand.
Lim Ming Yan, President and Group Chief Executive Officer of CapitaLand, said:
“On behalf of the management team, I would like to thank Mr Seah for his strong leadership over the last 13 years. Given his breadth and depth of experience, the Group has benefitted immensely from his deep insights. He has provided exemplary leadership in strengthening the financial strength of the company amidst challenging market conditions. We thank him for his invaluable contributions to CapitaLand and wish him well in his future endeavours.”
CapitaLand is one of Asia’s largest real estate companies headquartered and listed in Singapore.
The company leverages its significant asset base, design and development capabilities, active capital management strategies, extensive market network and operational capabilities to develop high-quality real estate products and services.
Its diversified global real estate portfolio includes integrated developments, shopping malls, serviced residences, offices and homes. Its two core markets are Singapore and China, while Indonesia, Malaysia and Vietnam have been identified as new growth markets.
The company also has one of the largest real estate fund management businesses with assets located in Asia. – BusinessNewsAsia.com