Keppel REIT Management, as manager of Keppel REIT, has announced that Paul Tham will step down as chief executive officer on October 20 2021 to pursue other opportunities.

The board is currently evaluating potential CEO candidates, and an announcement on the successor CEO will follow in due course. Shirley Ng, deputy CEO and head of investment, will assume the role of acting CEO, subject to regulatory approval, and will work closely with the board and management team on key strategic and operational issues during the leadership transition.

"We will be appointing a CEO to lead Keppel REIT on its next phase of growth,” says Penny Goh, chairman of the Keppel REIT Management. “The board and management team will continue to work closely with Keppel Capital and Keppel Land to build a resilient portfolio that can deliver stable distributions and long-term value to unitholders.”

Keppel REIT’s assets under management, as of June 30 2021, stood at approximately US$8.7 billion, assuming the divestment of 275 George Street in Brisbane, Australia.