Property giant City Developments Limited (CDL) has announced changes to its senior management structure as part of plans to further grow its business overseas.
Grant L. Kelley (pictured) has been appointed the group’s Chief Executive Officer. The 49-year old has more than 20 years of global experience in corporate strategy, private equity and real estate investment.
Before his appointment, Mr Kelley served as Head of Real Estate, Asia Pacific at Apollo Global Management.
From 2004 to 2008, he was the CEO of Colony Capital Asia where he led the buyout of Raffles Holdings’ entire hotel portfolio, including the Raffles Hotel, for about S$1.72 billion.
Mr Kelley was also a Director of Sentosa Development Corporation from March 2007 to February 2011, and served as Director of Sentosa Leisure Holdings from May 2007 to March 2009.
Meanwhile, CDL’s Managing Director Kwek Leng Joo will relinquish his post and will assume the role of Deputy Chairman. Mr Kwek, 60, will focus on product innovation and continue to provide leadership on corporate social responsibility (CSR) and sustainability initiatives.
Responding, Kwek Leng Beng, CDL Executive Chairman, said: “We need to change and evolve as an organisation. We need to be less Singapore-centric in light of limited opportunities domestically.”
“These appointments will help strengthen and deepen the expertise of our management team as we shift gears and look outwards to capitalise on growth markets.”
The new appointments will take effect from 17 February.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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