CapitaLand Integrated Commercial Trust (CICT) has announced changes to its board composition, with Tan Choon Siang appointed as the new CEO and current CEO Tony Tan taking on the role of CCO at CapitaLand Development. These changes were revealed in a bourse filing on March 17.
Effective May 1, 2025, Tan Choon Siang, who currently serves as Deputy CEO, will assume the position of CEO and Executive Non-Independent Director of CICT. He will also become a member of the company’s executive committee (EC).
In light of this, current CEO Tony Tan will step down as an Executive Non-Independent Director and a member of the EC. Instead, he will become the Chief Corporate Officer of CapitaLand Development. Tan has been at the helm of CICT since 2017, when he was appointed as CEO and Executive Director.
Under Tan’s leadership, CICT oversaw the successful merger of CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020, resulting in the creation of Singapore’s largest listed Real Estate Investment Trust (REIT) with a market capitalization of $15.5 billion.
Incoming CEO Tan has a strong background in the real estate sector. He previously served as the manager of CapitaLand Malaysia Trust since 2022 and held the position of Chief Financial Officer at the manager of CapitaLand India Trust. He was also the Head of Corporate Finance & Treasury at Ascendas-Singbridge, which merged with CapitaLand in 2019.