AEI works at Cambridge Industrial Trust property at 3 Pioneer Sector 3.AEI works at Cambridge Industrial Trust property at 3 Pioneer Sector 3.

Cambridge Industrial Trust (SGX:J91U) revealed on 15 January that David Graham Mason has resigned from his positions in the Singapore-listed industrial REIT “to pursue new opportunities”.

His resignation came against the backdrop of headwinds in the economy that has seen units of Cambridge Industrial Industrial Trust fall to its lowest in 52 weeks.

“Due to personal reasons, Mr. Mason has resigned from his position in the company”, said the REIT in a filing with the Singapore Exchange. “While he will relinquish his position as chief operating officer and chief financial officer on 16 January 2016, he will remain as advisor in the company to facilitate a smooth transition until April 2016”, said the REIT.

According to Cambridge Industrial Trust, Mason was responsible for monitoring the daily operations of the REIT’s manager and the REIT itself. “As the chief financial officer, he was responsible for the financial performance and oversees all finance and capital management functions of the manager and the trust”, the REIT added.

“The CEO and Executive Director and the Board thank Mr. Mason for his outstanding service over the last five years, a period of significant achievements for Cambridge Industrial Trust in an uncertain environment”. Mason currently holds 339,286 units of Cambridge Industrial Trust.

Cambridge Industrial Trust also revealed that it has appointed a new COO and CFO and that a further announcement will be made once the appointment becomes effective.

Units of Cambridge Industrial Trust are currently listed on the Singapore Exchange at SGD0.53.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.