Elizabeth Tan steps down as CEO of IGB REITs, father Robert Tan redesignated as executive chairman

• Both REITs also announced that Antony Patrick Barragry, the former CEO of IGB REIT Management Sdn Bhd, the manager of the two REITs, is coming out of retirement to assume the role of acting CEO of IGB REIT Management, effective from Wednesday.

KUALA LUMPUR (March 19): IGB Commercial Real Estate Investment Trust (KL:IGBCR) and IGB Real Estate Investment Trust (KL:IGBREIT) on Wednesday announced that their chief executive officer Elizabeth Tan Hui Ning, 41, is stepping down due to medical reasons, effective immediately.

In separate filings with the bourse on Wednesday, the companies said their non-executive chairman Datuk Seri Robert Tan Chung Meng, 72, will be redesignated as the executive chairman of both REITs.  

Hui Ning is Chung Meng’s daughter.

Both REITs also announced that Antony Patrick Barragry, the former CEO of IGB REIT Management Sdn Bhd, the manager of the two REITs, is coming out of retirement to assume the role of acting CEO of IGB REIT Management, effective from Wednesday.

Barragry served as the CEO of IGB REIT Management from the listings of IGB REIT on Sept 21, 2012 and IGB Commercial REIT on Sept 20, 2021, until his retirement on Dec 31, 2023.

IGB Commercial REIT closed half a sen or 0.9% lower at 53 sen on Wednesday, giving it a market capitalisation of RM1.28 billion.

IGB REIT was down one sen or 0.4% at RM2.26, valuing the REIT at RM8.12 billion.

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