UOL chief retiring on Jan 31; CapitaLand chief exiting some roles

UOL Group's group chief executive Gwee Lian Kheng is retiring after 45 years of service. He will remain a director on the board.
UOL Group's group chief executive Gwee Lian Kheng is retiring after 45 years of service. He will remain a director on the board.

Another long-time stalwart has signalled an exit from a blue-chip property company.

UOL Group's group chief executive Gwee Lian Kheng will retire on Jan 31 next year, after 45 years of service. He will remain a director on the board.

Mr Gwee, 77, joined the company as group financial controller and company secretary in 1973.

In 1987, he became the executive director and general manager of UOL.

Since then, the company has grown its total assets from about $749 million to nearly $20 billion as of March 31, UOL Group noted in a statement yesterday.

The board is still identifying and reviewing internal and external candidates for a successor.

Mr Gwee will work with the board to achieve a smooth transition, UOL said.

"I consider it a privilege to have had the opportunity to serve so many years, indeed almost my entire career, in a company that has become a leading property player in Singapore," he said in the statement.

"For this, I am very grateful to the board of UOL, in particular chairman Dr Wee Cho Yaw, for his guidance, support and trust over the years, which enabled me and my management team to build the company to what it is today and to create value for our shareholders."

Separately, CapitaLand group chief executive Lim Ming Yan, who earlier this month announced that he will retire on Dec 31, is vacating his other roles within the group.

From July 1, he will give up his roles on the boards of CapitaLand Retail China Trust Management, Ascott Residence Trust Management, CapitaLand Commercial Trust Management and CapitaLand Mall Trust Management.

Mr Lim, 55, joined CapitaLand in 1996, taking over the roles of chief executive and president on Jan 1, 2013. He had succeeded CapitaLand's founding chief executive, Mr Liew Mun Leong.

Before that appointment, Mr Lim was the firm's chief operating officer from May 2011 to December 2012. He has also held other senior positions, including CEO of The Ascott and a nine-year stint as CEO of CapitaLand China Holdings, where he played a key role in establishing the group's footprint in China.

A version of this article appeared in the print edition of The Straits Times on June 30, 2018, with the headline 'UOL chief retiring on Jan 31; CapitaLand chief exiting some roles'. Print Edition | Subscribe