Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Sunday, July 6
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Property»Frasers Property sees several senior management changes amid challenging UK market
    Property

    Frasers Property sees several senior management changes amid challenging UK market

    April 15, 20254 Mins Read


    [SINGAPORE] Several of Frasers Property’s senior management team will be leaving the company, including group chief operating officer (COO) Anthony Boyd and group chief digital officer Samuel Tan. 

    According to an internal memo seen by The Business Times, Boyd will be stepping down from his role effective Jul 4, after two decades in the real estate company and a year as COO. 

    In the memo, which was sent on Apr 7, Frasers Property group chief executive officer Panote Sirivadhanabhakdi cited “family reasons” for Boyd’s departure. 

    He added that Boyd’s role will not be replaced just yet, but that his responsibilities will be redistributed among various group executives. 

    “Anthony’s contributions throughout his time with us and his positive style of engagement are greatly valued and have not gone unrecognised by many, including myself,” Panote added.

    Boyd was appointed to a newly created group COO role in February 2024, to work closely with the global executive leadership team as well as support the group CEO in aligning strategic programmes.

    A NEWSLETTER FOR YOU
    Newsletter Img

    Tuesday, 12 pm

    Property Insights

    Get an exclusive analysis of real estate and property news in Singapore and beyond.

    Meanwhile, Tan will be resigning on May 5, to pursue “new opportunities”. 

    Tan, who joined the group nearly five years ago and is responsible for progressing its digital transformation, will support a “smooth and orderly transition to his successor”, said Panote in a separate memo sent in late-March, also seen by BT. 

    Panote also noted leadership changes in Frasers Property UK, the group’s UK business unit. 

    This includes the transition of its CEO Ilaria del Beato on Jul 1, after more than seven years at the helm, to an advisory role supporting the UK business. 

    Also leaving the company are Martin Ratchford, Frasers Property UK’s chief financial officer, effective Dec 31, 2025; and Guy Morgan, its head of development, who is leaving in late June. 

    In response to queries from BT, Frasers Property said the recent movements in its senior management team are part of the normal course of business. “We recognise and appreciate the dedication, leadership and valued contributions of our colleagues who are departing and wish them well as they pursue new opportunities.”

    New internal appointments have been made, in line with the group’s strategic priorities, it noted. “This… enables us to continue (strengthening) our capability and leadership bench, ensuring we are well-positioned to achieve our strategic goals.”

    Frasers added that it remains focused on its “sustainable value creation journey”, in increasing development exposure over the medium to long term, boosting recurring and fee income, and unlocking asset value and optimising capital efficiency.

    “We recognise and appreciate the dedication, leadership and valued contributions of our colleagues who are departing and wish them well as they pursue new opportunities. ”

    —

    Frasers Property on the recent movements in its senior management 

    The recent series of management changes comes on the heels of boardroom adjustments earlier this year. 

    In February, Frasers Property’s board chairman, Thai billionaire Charoen Sirivadhanabhakdi, retired from office. He was succeeded by Chumpol NaLamlieng, the former president of Siam Cement Group. 

    Following his retirement, Charoen was appointed chairman emeritus, in recognition of his contributions to the company. 

    Two non-executive and independent directors – Tan Pheng Hock and Siripen Sitasuwan – have also retired since then, as part of the group’s plans for board refreshment and renewal. 

    Uneven performance

    The changes at Frasers Property follow an uneven financial showing, with its UK business in particular recording some losses.  

    In the financial year ended Sep 30, 2024, the group’s net profit rose 19.2 per cent to S$206.3 million, and revenue increased 6.8 per cent to S$4.2 billion. 

    Frasers Property attributed the improved results to higher contributions from residential projects in China and Australia, despite higher interest expenses. Meanwhile, significant unrealised fair value losses were recorded on certain commercial properties in the UK and Australia, it said. 

    The UK unit also saw lower valuations on business parks as at end-FY2024, driven by challenging market conditions, such as a softer leasing market and capitalisation rates, it pointed out. 

    Frasers’ UK business unit consequently suffered losses before interest tax of S$31.5 million in FY2024, reversing from a profit of S$31.4 million in the prior year. This was largely due to an impairment of a commercial property, it said, and excludes the impairment and contributions from business parks. 

    Most recently, in its business update for the first quarter, Frasers said it has registered S$1 billion in pre-sold revenue across Singapore, Australia, Thailand and China as at Dec 31, 2024. The outlook for its business units in these countries also remain positive, even in the face of a slowing economy and macroeconomic headwinds. 

    On the flip side, it noted that market sentiment still remains subdued in the UK, with a weaker office leasing market weighing on its commercial portfolio. 



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleLe minage de Bitcoin (BTC) est-il un « fardeau environnemental » ? Voici une nouvelle étude à charge
    Next Article Les altcoins prêts à rallier alors que la dominance de Bitcoin diminue

    Related Posts

    Property

    Holiday home horror as property trashed after gender reveal turns into drunken rampage

    July 6, 2025
    Property

    Why Living in Madeira Is Captivating for UK Buyers

    July 6, 2025
    Property

    Staff at major UK airports offered £1 bonuses for catching oversized bags 

    July 6, 2025
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Utilities

    CenterPoint Energy finalise la vente de Louisiana and Mississippi Gas Utilities à Bernhard Capital Partners

    April 1, 2025
    Utilities

    Columbia Utilities warns against walking along COLT railroad tracks | Local

    October 20, 2024
    Bitcoin

    Les 3 principales raisons pour lesquelles le prix du bitcoin viendra à un nouveau sommet de tous les temps

    May 6, 2025
    What's Hot

    LE POINT CRYPTOS : Le bitcoin progresse, le dossier commercial toujours au coeur de l’attention

    June 3, 2025

    Scientists sound the alarm over ‘repercussions’ of bitcoin investments — here’s why its so concerning

    October 12, 2024

    Bitcoin To Surge by up to 83% if History Repeats Itself, Says Analyst Kevin Svenson – But There’s a Catch

    July 20, 2024
    Most Popular

    Nasdaq futures lead stocks lower in wait for earnings to rush in

    October 21, 2024

    Bitcoin flashes indicator that often precedes higher prices: CryptoQuant

    August 19, 2024

    Le président de China Pacific Property Insurance démissionne ; son successeur est nommé

    March 23, 2025
    Editor's Picks

    la guerre commerciale contre la Chine fait plonger le Bitcoin

    April 9, 2025

    Worst day of 2025 « Euro Weekly News

    March 11, 2025

    Bitcoin is on pace for its largest percentage gain since March (but at key resistance)

    August 8, 2024
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2025 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.