City Developments Limited announced pursuant to the recommendation of the Nominating Committee, the Board approved the appointment of Mr. Kwek Eik Sheng as the Group Chief Operating Officer of City Developments Limited, a newly created position. The Board is of the view that the said appointment is appropriate and beneficial for the CDL Group in that the GCOO will help drive the Group's overall performance, including providing leadership to the operational and administrative functions while ensuring an efficient reporting structure and effective internal controls system. As GCOO, Mr. Kwek Eik Sheng will be responsible for providing leadership to the Group that aligns with its business plan and strategic vision as endorsed by the Board, working closely with the Group Chief Executive Officer and other members of the Management Team to drive operational and financial results. Heads various positions in CDL: (i) Group Chief Strategy Officer* (April 2014 to present) - Responsible for the investment analysis and formulation of business strategies to explore new sectors for growth and to drive corporate-wide initiatives for increased corporate efficiency and innovation. * re-designated as Group Chief Strategy Officer on 1 February 2018 (ii) Executive Director of Millennium & Copthorne Hotels Limited (M&C) (November 2019 to present) - Oversight on investment management, capital planning and development projects for the M&C group and spearheading the integration between M&C and CDL. (iii) Head, Asset Management (April 2016 - June 2018) - Developed and implemented asset management strategies for the Group's diverse portfolio of assets in order to achieve effective and efficient returns. (iv) Head, Corporate Development (Jan 2011 - March 2014) - Assisted in the generation and implementation of strategies that would improve corporate performance, championed change management and led corporate planning to further CDL's goals.