CapitaLand Integrated Commercial Trust (CICT) has announced changes to its board with the appointment of Tan Choon Siang as CEO and current CEO Tony Tan as CCO of CapitaLand Development. This was disclosed in a bourse filing on March 17.
Tan Choon Siang, who currently holds the position of deputy CEO, will assume the role of CEO and executive non-independent director from May 1, 2025. He will also join the executive committee (EC).
Meanwhile, current CEO Tony Tan will step down as an executive non-independent director and member of the EC. He will be appointed as the chief corporate officer of CapitaLand Development. Tan has been serving as CEO and executive director of CICT since 2017.
Under Tan’s leadership, CICT underwent a successful merger with CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020 to form Singapore’s largest listed REIT with a market capitalization of $15.5 billion.
The new CEO, Tan Choon Siang, was previously the manager of CapitaLand Malaysia Trust since 2022 and the chief financial officer of CapitaLand India Trust’s manager. He also held the position of Head of Corporate Finance & Treasury at Ascendas-Singbridge, which merged with CapitaLand in 2019.