Capitaland Integrated Commercial Trust Appoints New Ceo May 1

CapitaLand Integrated Commercial Trust (CICT) has announced changes to its board of directors, with the appointment of a new CEO and shuffling of roles for current executives. According to a filing to the stock exchange on March 17, current deputy CEO Tan Choon Siang will be appointed as the new CEO of the company and also become an executive non-independent director effective from May 1, 2025. He will also join the executive committee (EC) of the company.

Meanwhile, current CEO Tony Tan will step down as an executive non-independent director and member of the EC. He will take on the role of chief corporate officer for CapitaLand Development. Tan has been the CEO and executive director of CICT since 2017.

Under Tan’s leadership, CICT oversaw the successful merger of CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020, creating Singapore’s largest listed REIT with a market capitalization of $15.5 billion.

Tan Choon Siang brings a wealth of experience to his new role, having previously served as the manager of CapitaLand Malaysia Trust since 2022 and as the chief financial officer of the manager of CapitaLand India Trust. He was also the Head of Corporate Finance & Treasury at Ascendas-Singbridge, which merged with CapitaLand in 2019.

The changes in CICT’s board composition are part of the company’s ongoing efforts to strengthen its management team and drive growth. With Tan Choon Siang’s proven track record and extensive expertise in various aspects of real estate, he is well-positioned to lead CICT to continued success.