SINGAPORE (THE BUSINESS TIMES) - The manager of AIMS APAC Reit (AA Reit) announced on Wednesday (Sept 8) the resignation of its executive director and chief executive officer (CEO) Koh Wee Lih, who will step down on Nov 28 after nearly eight years at his post.
Mr Koh, 49, is resigning to "pursue other professional interests".
Russell Ng, 40, has been announced as the appointed CEO-designate with immediate effect. He will officially assume the CEO role on Nov 29 after obtaining the relevant regulatory approval.
In his capacity as the manager's newly appointed CEO, Mr Ng will be responsible for the Reit's overall planning, management and operation while working with the board on key strategic and operational matters of AA Reit.
Mr Koh will work closely with the board and Mr Ng to ensure an orderly and smooth transition, said the Reit manager in a regulatory filing.
In his previous role as the manager's head of investor relations, investments and partnerships, Mr Ng was a core member of the senior management team, and was responsible for AA Reit's investment activities, strengthening investor relationships and developing new capital and business partnerships.
He has held senior fund management and investment roles with property and infrastructure group Lendlease, real estate investment-focused company AEP Investment Management, as well as Soilbuild Business Space Reit, where his responsibilities included working with the board and investors to meet fund objectives.
"The board would like to express its appreciation to Mr Koh for his invaluable contribution to the growth of AA Reit since joining the Manager in December 2008, and as CEO since early 2014. The board extends its best wishes to Mr Koh in his future endeavours," said the manager.
Units of AA Reit were trading flat at $1.59 as at 9.13am on Wednesday, after the announcement.