Their appointments will take effect from June 30.
Outgoing CEO William “Tripp” Gantt, deputy CEO Caroline Fong and CFO Robert Wong will be stepping down on the same day.
The resignation of the REIT’s “whole C-suite” came as a surprise to the analysts from DBS Group Research, who noted that the present team “held the helm” during the REIT’s “most difficult and challenging times”.
“Following the stabilisation of MUST with the recapitalisation plan, a complete change of the C-suite came as a surprise,” said the analysts in their note dated March 19.
See also: DBS is said to hire Sarah Tsao from UBS in senior government role
Units in MUST closed at 6.5 US cents on June 27.
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