News
Change - Announcement Of Appointment Of Teo Joo Ling, Serena As CEO And Executive Non-Independent Director
Back30 Jun 2022
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Jun 30, 2022 17:44 |
| Status | New |
| Announcement Sub Title | Appointment of Teo Joo Ling, Serena as CEO and Executive Non-Independent Director |
| Announcement Reference | SG220630OTHRUBID |
| Submitted By (Co./ Ind. Name) | Karen Chan |
| Designation | Company Secretary, Ascott Residence Trust Management Limited |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Ms Teo Joo Ling, Serena as Chief Executive Officer ("CEO"), Executive Non-Independent Director and Member of the Executive Committee of Ascott Residence Trust Management Limited (as manager of Ascott Real Estate Investment Trust) and Ascott Business Trust Management Pte. Ltd. (as trustee-manager of Ascott Business Trust) (collectively, the "Managers"). |
| Additional Details | |
| Date Of Appointment | 01/07/2022 |
| Name Of Person | Teo Joo Ling, Serena |
| Age | 48 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process) | Ms Teo was appointed as the Deputy CEO on 15 November 2021. Ms Teo's appointment as CEO and Executive Non-Independent Director (the "Appointment") is part of the regular succession and leadership renewal process of the Managers. Ms Teo has over 25 years of experience spanning both private and public sectors. Prior to joining the Managers, Ms Teo had been with the Ascendas Group for over 10 years. She was the Head, Portfolio Management for the manager of Ascendas REIT and was responsible for formulating and executing business strategies to maximise the income and asset value of the REIT s properties. Her role also involved overseeing the property managers in the delivery of marketing and leasing, property management, lease management, customer care services and asset enhancement initiatives. Previously, Ms Teo also held various positions including Head of Operations & Services, Head of Group Strategy Management, Vice President of Investment Management of Ascendas Property Fund Trustee Pte. Ltd. Prior to Ascendas Group, Ms Teo was in the Singapore Economic Development Board and EDB Investments where she spent more than 10 years in the development of the semiconductors and other electronics industries in Singapore, as well as direct equity investments in communications, software and logistics companies. She started her career as an engineer in Chartered Semiconductors. Based on Ms Teo's working experience and qualifications, the Board has approved her Appointment. |
| Whether appointment is executive, and if so, the area of responsibility | The position is in executive in nature. Ms Teo will manage all aspects of Ascott Residence Trust's business. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | CEO, Executive Non-Independent Director and Member of the Executive Committee |
| Professional qualifications | MBA, INSEAD B.Eng (Hons) Electrical and Electronic Engineering National University of Singapore |
| Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or any of its principal subsidiaries | Nil |
| Conflict of interests (including any competing business) | Nil |
| Working experience and occupation(s) during the past 10 years | Nov 2021 to Present Deputy Chief Executive Officer, Ascott Residence Trust Management Limited and Ascott Business Trust Management Pte. Ltd. (the Managers of Ascott Residence Trust) Sep 2018 - Nov 2021 Head, Portfolio Management Ascendas Funds Management (S) Ltd (the Manager of Ascendas Real Estate Investment Trust) Nov 2015 - Aug 2018 Head, Operations and Services Ascendas Services Pte Ltd Nov 2013 - Nov 2015 Head, Group Strategy Management Ascendas Land (S) Pte Ltd Jul 2011 - Oct 2013 Vice President, Investment Management Ascendas Property Fund Trustee Pte. Ltd |
| Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6)) | No |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| # These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8). | |
| Past (for the last 5 years) | Please see Appendix A |
| Present | Nil |
| (a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner? | No |
| (b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency? | No |
| (c) Whether there is any unsatisfied judgment against him? | No |
| (d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose? | No |
| (e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach? | No |
| (f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part? | No |
| (g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust? | No |
| (h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust? | No |
| (i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| (j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :- | |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | No |
| (ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No |
| (iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No |
| (iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | No |
| (k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | No |
| Any prior experience as a director of an issuer listed on the Exchange? | No |
| If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange | Ms Teo will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange. |
Attachments
- Appendix A (Size: 12,239 bytes)