Lendlease Global Commercial Reit manager appoints existing director Penelope Ransom as board chair

[SINGAPORE] The manager of Lendlease Global Commercial Real Estate Investment Trust (Reit) on Tuesday (Jun 30) appointed Penelope Ransom, an existing non-independent non-executive director, as the board’s chairperson.

Ransom, who has served as a director of the manager since November 2023, will also join the audit and risk committee. She is also part of the nomination and remuneration committee, as well as the environmental, social and governance committee.

She succeeds Justin Gabbani, whose resignation was announced in May. He will be leaving Lendlease Group to pursue an external opportunity, the manager said then.

Guy Cawthra, the manager’s CEO, has been appointed as an executive director.

He sets the Reit’s direction, leads the execution of its strategies and policies, overseas its day‑to‑day management, and oversees portfolio management, capital deployment, acquisitions, financing and sustainability initiatives, the manager said in its Tuesday bourse filing.

The Reit’s portfolio includes leasehold interest in three properties located in Singapore: Jem, 313@Somerset and PLQ Mall.

The counter closed at S$0.57, down S$0.005 or 0.9 per cent, before the announcement.