{"id":63604,"date":"2017-08-14T05:00:03","date_gmt":"2017-08-13T22:00:03","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/smooth-transition-expected-at-cdl-following-ceos-resignation\/"},"modified":"2017-08-14T05:08:52","modified_gmt":"2017-08-13T22:08:52","slug":"smooth-transition-expected-at-cdl-following-ceos-resignation","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/smooth-transition-expected-at-cdl-following-ceos-resignation\/","title":{"rendered":"Smooth transition expected at CDL following CEO\u2019s resignation"},"content":{"rendered":"


\nCDL CEO Mr Grant Kelley.
\nGrant L. Kelley, the CEO of Singapore\u2019s second-largest developer CDL, has resigned after serving more than 3.5 years, citing personal reasons. The announcement was made during CDL\u2019s results briefing last Friday (11 August). \u00a0
\nKelley intends to return to Australia to become the new CEO at ASX-listed Vicinity Centres, a real estate investment trust company based in Melbourne.
\nHe was credited for helping to accelerate CDL\u2019s diversification strategy launched in 2014. The group has since invested about $3.5 billion in overseas markets and raised more than $3.5 billion in funds under management.
\nSEE ALSO: CDL to benefit from property upcycle, calls for review of QC policy
\nMeanwhile, deputy CEO Sherman Kwek has been promoted to CEO-designate of the company effective 11 August. He will work alongside Kelley, who will remain at CDL until 31 December, before assuming full responsibilities from 1 January 2018.
\nKwek, 41, is the elder son of CDL\u2019s executive chairman Kwek Leng Beng. He was previously the group\u2019s chief investment officer and oversaw its China business. \u00a0
\nHe has experience in the areas of investments, mergers and acquisitions, real estate and hospitality, and has worked in New York, Hong Kong, Shanghai and Singapore.
\n\u201cGiven the succession plan in place with Mr Kwek appointed deputy CEO since April 2016, we expect a smooth transition with continuity of management strategy,\u201d Credit Suisse said in a note.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Smooth transition expected at CDL following CEO\u2019s resignation<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

CDL CEO Mr Grant Kelley. Grant L. Kelley, the CEO of Singapore\u2019s second-largest developer CDL,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-63604","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-gxS","jetpack-related-posts":[{"id":94187,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdls-carbon-emission-reduction-now-scientifically-validated\/","url_meta":{"origin":63604,"position":0},"title":"CDL\u2019s carbon emission reduction now scientifically validated","date":"July 18, 2018","format":false,"excerpt":"\r City Developments Ltd (CDL) has emerged as the first Singapore property developer to have its carbon emission reduction assessed and validated by the Science Based Targets Initiative (SBTi), according to an SGX filing today (18 July). SBTi \u2013 a collaboration between UK-based CDP, World Resources Institute, United Nations Global\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46021,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdls-kwek-worst-not-over-for-property-market\/","url_meta":{"origin":63604,"position":1},"title":"CDL\u2019s Kwek: Worst not over for property market","date":"February 24, 2017","format":false,"excerpt":"\r CDL\u2019s chief thinks it will take months before property prices begin to recover. Singapore\u2019s real estate market is still struggling, with home prices falling for the third year in 2016 due mainly to the government\u2019s cooling measures, according to City Developments Limited\u2019s (CDL) Executive Chairman, Kwek Leng Beng. \u201cI\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67946,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-introduces-healthy-eating-to-construction-workers\/","url_meta":{"origin":63604,"position":2},"title":"CDL introduces healthy eating to construction workers","date":"October 2, 2017","format":false,"excerpt":"\r Over 1.5 tonnes of fortified rice were distributed to some 300 workers on Sunday. (Photo: CDL) City Developments Limited (CDL) distributed over 1.5 tonnes of fortified rice to some 300 construction workers on Sunday (1 October) at the CDL 5-Star Environmental, Health and Safety (EHS) Awards 2017 held at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105873,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-clinches-500m-green-loan-for-new-development-projects\/","url_meta":{"origin":63604,"position":3},"title":"CDL clinches $500m green loan for new development projects","date":"April 8, 2019","format":false,"excerpt":"\r 11 Tampines Concourse is the first CarbonNeutral development in Asia Pacific and Singapore. (Photo: CDL) City Developments Limited (CDL) has secured its first green loans which amounted to $500 million, revealed the property developer in an SGX filing last Friday (April 5). This comes after DBS Bank, the advisor\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30849,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-cdl-to-invest-in-luxury-tokyo-condo\/","url_meta":{"origin":63604,"position":4},"title":"Singapore\u2019s CDL to invest in luxury Tokyo condo","date":"October 20, 2016","format":false,"excerpt":"\r Taking a slice of land-scarce Japan Aoyama, Tokyo. hedgehog111 \/ Shutterstock.com Singaporean property behemoth City Developments (CDL) revealed Tuesday plans to buy a 20 percent stake in a 163-unit condominium project in Tokyo. The project, being developed by Mitsui Fudosan Residential, which partnered with City Developments before for its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95781,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdls-net-profit-up-79-5-in-q2\/","url_meta":{"origin":63604,"position":5},"title":"CDL\u2019s net profit up 79.5% in Q2","date":"August 10, 2018","format":false,"excerpt":"\r CDL\u2019s strong performance was helped by its residential projects in Singapore, such as the high-end New Futura condominium. City Developments Limited\u2019s (CDL) net profit for the second quarter of 2018 soared 79.5 percent year-on-year to $204.8 million, while revenue jumped 59.2 percent year-on-year to $1.36 billion on the back\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/63604"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=63604"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/63604\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=63604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=63604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=63604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}