City Developments picks new CEO from outside Kwek family
The weak property market in Singapore has prompted one of Singapore's biggest property developers to make changes to its top management.
Property giant City Developments (CDL) said on Thursday that Mr Kwek Leng Joo, its managing director, will move to the post of deputy chairman.
The mainboard-listed firm also for the first time appointed a new chief executive officer who is not related to the Kwek family - Mr Grant Kelley, who was previously with a private equity fund.
Both of these appointments will take effect on Feb 17.