The CEO of the manager of Sasseur REIT, Cecilia Tan, will "discontinue her employment" with the manager from Oct 28, according to a bourse filing on Apr 30.
Tan will be pursuing other professional interests, the release reads. In the meantime, the board is in the process of identifying a suitable candidate for the role of CEO.
Tan joined the manager as CEO-designate in July 2021 and assumed the position of CEO in August that same year.
Sasseur REIT focuses on retail malls across Asia with an emphasis on China. It has a portfolio in major Chinese cities like Chongqing, Hefei and Kunming.
The REIT employs a Entrusted Management Agreement (EMA) model in its operations, in which the sponsor, Sasseur Group is responsible for managing the day-to-day operations of the outlets including driving tenant sales. This is unlike that of most retail REITs in China and other local and foreign REITs listed on the SGX.
Units in Sasseur REIT closed 0.5 cents higher or 0.794% up at 63.5 cents on Apr 30.
