Veteran businessman and technology investor Koh Boon Hwee will step down from his position as non-executive chairman of Far East Hospitality Trust (H-Trust) on June 30.

Deputy chairman Wee Kheng Jin will assume the chairmanship on July 1.

Far East H-Trust is a stapled group comprising Far East Hospitality Reit and Far East Hospitality Business Trust.

A distinguished corporate leader, Mr Koh has been instrumental in leading Far East H-Trust since its listing on the Singapore bourse in 2012, and in charting the long-term strategic growth of the company, the group said.

Mr Koh has also chaired the boards of Singtel, DBS Bank and Singapore Airlines.

The group said Mr Wee is "no stranger" to Far East H-Trust as he has served alongside Mr Koh for the past six years.

"Currently an executive director with Far East Organization (FEO) and a director of several boards within the FEO group, Mr Wee has extensive finance experience in a variety of industries, including banking, construction, hospitality services and real estate development."

Separately, non-executive director Chng Kiong Huat will be retiring from the FEO Hospitality Asset Management board on June 30.

Far East H-Trust said Mr Chng has provided valuable guidance to the group, particularly in the planning and execution of various asset enhancement initiatives.

From July 1, Ms Vivienne Lim will be appointed to the boards of FEO Hospitality Asset Management and FEO Hospitality Trust Management as an independent director.