On The Move: The Walt Disney Company

The Walt Disney Company

The Walt Disney Company has appointed Mr Uday Shankar as president of its Asia-Pacific unit as it restructures its divisions outside of the United States in the light of the pending acquisition of 21st Century Fox, it said last week.

Mr Shankar is currently the president of 21st Century Fox, Asia, and chairman and chief executive of Star India.

Besides his new role as president of The Walt Disney Company Asia Pacific, he will also chair Star and Disney India.

The other two international business units are Europe, the Middle East and Africa , and Latin America.

Mr Kevin Mayer, Disney's chairman of the direct-to-consumer and international segment, said: "Once the acquisition is complete, all three regions will be led by exceptional, highly experienced executives who will combine the 'best of the best' talent from both organisations."

In December last year, The Walt Disney Company announced it was buying 21st Century Fox for US$52.4 billion (S$72 billion) in stock. The acquisition has received formal approval from shareholders of both companies.

"The transaction is subject to various international regulatory clearances, a number of which have been obtained, while others remain pending," it said in the latest statement.

Mapletree Commercial Trust

Mapletree Commercial Trust (MCT) has appointed two independent non-executive directors.

They are former Business Times (BT) editor Alvin Tay Tuan Hearn and Mr Wu Long Peng, non-executive director of Malaysian Bulk Carriers and PACC Offshore Services Holdings.

Mr Tay was BT editor from 2002 and became managing editor of the English/Malay/Tamil Media Group at Singapore Press Holdings from 2016 until his retirement on Feb 28 this year. Mr Wu was the executive director of Kuok (Singapore) until April last year.

MCT said in a statement: "The directors are of the view that Mr Wu and Mr Tay will bring added bench strength as well as diversity of perspectives to the business strategy of MCT."

CIMB-Principal Asset Management Group

Malaysia-headquartered CIMB-Principal Asset Management Group, an asset management company with regional investment capabilities, has appointed Mr Juan Ignacio Eyzaguirre Baraona as its new Asean chief executive officer.

He will oversee businesses across the region.

His appointment is subject to approvals by Malaysia's Securities Commission and the Immigration Department.

CIMB-Principal Asset Management group of companies is jointly owned by Principal Financial Group (Principal) and CIMB Group Holdings (CIMB).

Mr Alejandro Echegorri, who has served as CEO of Asean for CIMB-Principal Asset Management group of companies since March 2015, will assume a new role as chief investment officer for Principal International in Asia effective in February.

The group had RM80 billion (S$26.2 billion) in assets under management as of October this year.

A version of this article appeared in the print edition of The Straits Times on December 17, 2018, with the headline 'On The Move'. Print Edition | Subscribe