Change - Announcement of Appointment::Appointment of Deputy Chief Executive Officer

Issuer & Securities

Issuer/ Manager
CITY DEVELOPMENTS LIMITED
Securities
CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
11-Apr-2016 07:12:46
Status
New
Announcement Sub Title
Appointment of Deputy Chief Executive Officer
Announcement Reference
SG160411OTHR06AR
Submitted By (Co./ Ind. Name)
Enid Ling Peek Fong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Deputy Chief Executive Officer of City Developments Limited.

Additional Details

Date Of Appointment
11/04/2016
Name Of Person
Sherman Kwek Eik Tse
Age
40
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee (NC) has recommended the appointment of Mr Sherman Kwek Eik Tse as Deputy Chief Executive Officer (Deputy CEO). Prior to this appointment, Mr Kwek as the Chief Investment Officer of the Company, had successfully established a presence for the Group in Japan and Australia, as well as spearheaded the expansion and development of the Group's projects in China through his role as CEO of CDL China Limited. The NC had taken into consideration, inter alia, his experience, qualifications and competencies. The Board has approved the appointment as recommended by the NC and is of the view that this appointment is in line with the Company's commitment to groom leaders internally to provide for succession planning and continuity of leadership within the senior management team.
Whether appointment is executive, and if so, the area of responsibility
Executive appointment - As Deputy CEO, he will support the Chief Executive Officer, Mr Grant L. Kelley, in the oversight and management of the key operating divisions within the Company and the Group, providing operational leadership to drive the pursuit of the Group's strategic objectives in Singapore and the Company's overseas growth markets. He will relinquish his positions as Chief Investment Officer of the Company and Chief Executive Officer of CDL China Limited, a wholly owned subsidiary of CDL. He will however continue to have general oversight of Group's operations in China through his appointment as chairman of the board of CDL China Limited.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Deputy Chief Executive Officer
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Son of Mr Kwek Leng Beng, Executive Chairman and nephew of Mr Kwek Leng Peck, non-executive Director.
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
April 2014 - April 2016
Chief Investment Officer, CDL
- supported the CEO of CDL in the sourcing and execution of new investment opportunities with emphasis on overseas markets.

August 2010 - April 2016
CEO, CDL China Limited
- responsible for spearheading the CDL Group's expansion into the People's Republic of China.

November 2008 - March 2015
Chief Executive Officer, City e-Solutions Limited, a subsidiary of CDL which is listed on Hong Kong Stock Exchange.

March 2006 - August 2010
Executive Vice President, HL Global Enterprises Limited ("HLGE")
Appointed as Executive Director of HLGE in September 2007. Relinquished his executive position in HLGE but remained a non-executive Director on the board of HLGE from August 2010 to April 2014.
- responsible for the overall management of the HLGE group's operations and investments.

2006 - 2008
Chief Operating Officer, Thakral Corporation Limited ("TCL")
- responsible for running the day-to-day operations of TCL.
Shareholding interest in the listed issuer and its subsidiaries?
No
# These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8).
Past (for the last 5 years)
Platinum Class Limited (Struck off on 1 November 2012)
SWAN Holdings Limited
HL Global Enterprises Limited
LKN Investment International Pte. Ltd.
Shanghai Equatorial Hotel Management Co., Ltd (In members' voluntary liquidation)
Shanghai International Equatorial Hotel Company Ltd. (Disposed on 6 June 2013)
M and C Rakindo Hospitality Private Limited (Disposed on 23 October 2013)
Present
Actas Holdings Pte. Ltd.
Anting Investments Limited
CDL Acquisitions Pte. Ltd.
CDL Australia Holdings Pty Ltd
CDL China (Shanghai) Consulting Co., Ltd.
CDL China Investments Limited
CDL China Limited
CDL Crestview Holdings Pte. Ltd.
CDL Evergreen Pte. Ltd.
CDL Pro Star Development Pty Ltd
China Star Development Limited
China Venture Investments Limited
Chongqing Eling Property Development Co. Ltd
Chongqing Huang Huayuan Property Development Co., Ltd
City Developments Investments Pte. Ltd.
City Ikonik Pte. Ltd.
City Montage Pte. Ltd.
City Platinum Holdings Pte. Ltd.
Citydev Estate Holdings Pte. Ltd. (in the process of striking off)
Citydev Viva Holdings Pte. Ltd. (in the process of striking off)
First Platinum Holdings Pte. Ltd.
Global City International Limited
Merit City Global Limited
Orient Star Enterprises Limited
Shanghai Anting Waratah Real Estate Development Co., Ltd.
Singapura Developments (Private) Limited
Suzhou Global City Genway Properties Co., Ltd.
Tempus Platinum Investments Tokutei Mokuteki Kaisha
Tomorrow City (Singapore) Pte. Ltd.
Top Globe International Limited
CDL Hotels (Singapore) Pte Ltd
CES Capital Limited
Cosmic Hospitality China Limited
Richfield Hospitality China Limited
Copthorne Hotel Qingdao Co., Ltd.
Shanghai Hengshan Equatorial Hotel Management Co., Ltd
Beijing Hong Gong Garden Villa House Property Development Co., Ltd
Colink Limited
Crown Pacific Development Limited
Heidelberg Company Limited
Hong Leong International Trading Limited
Kwek Holdings Pte Ltd
(a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner?
No
(b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency?
No
(c) Whether there is any unsatisfied judgment against him?
No
(d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose?
No
(e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach?
No
(f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part?
No
(g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust?
No
(h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust?
No
(i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity?
No
(j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :-
(i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or
No
(ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or
No
(iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or
No
(iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust?
No
(k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere?
No
Any prior experience as a director of a listed company?
No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
Not applicable.