SINGAPORE - CapitaLand group president and chief executive Lim Ming Yan is leaving the property giant.
In an unexpected announcement, the company said Mr Lim has given notice to the board of his plans to retire.
The board has accepted Mr Lim's notice of retirement and he will serve until the end of the year.
Mr Lim, 55, joined CapitaLand in 1996 and will have served for more than 22 years, including six years as president and group CEO from Jan 1 2013 to Dec 31, 2018.
He remains as president and group CEO until his retirement takes effect.
He will be working closely with the board to achieve a smooth transition.
The new CEO will be announced when the appointment is made.
CapitaLand chairman Ng Kee Choe said: "On behalf of the Board, I thank Ming Yan for his many years of dedicated service and contributions to the CapitaLand Group. I wish him every success in his future endeavours."
Mr Lim said: "I have had the honour and the privilege of working with so many talented and dedicated colleagues at CapitaLand,
"Together we have accomplished a lot. CapitaLand is well positioned for the next phase of growth and I am committed to working closely with the Board through this transition phase."