15 Jan 2024
SINGAPORE, 15 JANUARY 2024
Frasers Property Limited (“Frasers Property”, and together with its subsidiaries, the “Group”) today announced key organisational changes, which will be effective 1 February 2024. These changes are aimed at simplifying the organisational structure to build a more resilient and future-ready organisation in alignment with company strategy.
Mr Panote Sirivadhanabhakdi, Group Chief Executive Officer (Group CEO) of Frasers Property, commented, “The Group has grown rapidly over the years. After a decade of reshaping our portfolio and building competitive business platforms, we are entering the next phase of our journey. We will continue to focus on delivering long-term sustainable value creation and returns for the business. The organisational structure of the Group needs to support the delivery of our strategy and goals. These leadership changes will enable us to draw deeper upon Group synergies, strengthen business resilience, and build further upon our strengths from both a geography and asset class perspective. I am confident that my leadership team, with our strong strategic alignment, will be able to lead the organisation together as one enterprise, to deliver on our shared ambition to drive sustainable value to all our stakeholders.”
The new organisational structure will see four key Group executive leadership roles reporting to the Group CEO. These roles will report to the Group CEO to drive the global strategic direction, as well as to enable synergies and governance across the Group.
The business units’ structure which clusters the businesses into core focus areas by geography and global asset class, will see six business unit leaders reporting directly to the Group CEO, instead of eight.
o Ms Soon Su Lin, Chief Executive Officer for Frasers Property Singapore
o Ms Ilaria del Beato, Chief Executive Officer for Frasers Property United Kingdom
o Mr Reini Otter, Chief Executive Officer for Frasers Property Industrial
o Ms Eu Chin Fen, Chief Executive Officer for Frasers Hospitality
Mr Sirivadhanabhakdi added, “Both Khong Shoong and Lorraine have contributed to Frasers Property across several roles during their time with us. I would like to extend my gratitude to Khong Shoong and Lorraine for their dedication and achievements for Frasers Property, which have contributed towards building a foundation for the next phase of our business. It has been the Board’s and my pleasure to work alongside both in different capacities over the years. We wish them well for their next chapter.”