ESR Trust Management, the entity managing Suntec REIT, has announced modifications to its board and board committee structures, effective from December 31.

Notably, Chan Pee Teck Peter and Foo Yee Shoon will retire from their positions as independent non-executive directors, having reached the maximum tenure limit of nine years. Concurrently, Shen Jinchu and Matthew James Lawson will step down as non-executive directors, a move that aligns with a planned change in the ownership of the manager.

Abdul Jabbar Bin Karam Din is slated for appointment as chairman of the nominating and remuneration committee (NRC) and as a member of the audit and risk committee (ARC). Anthony Charles Philip Couse will join as a member of both the NRC and ARC, while David Alasdair William Matheson is appointed as a member of the NRC.

From December 31, the board of ESR Trust will comprise the following individuals: David Alasdair William Matheson, Yap Chee Meng, Anthony Charles Philip Couse, Abdul Jabbar Bin Karam Din, Lock Wai Han, and Chong Kee Hiong.

On December 30, shares of Suntec REIT concluded trading one cent lower, a decline of 0.699 percent, closing at S$1.42.