Check out CapitaLand's revamped organisation structure effective immediately

It's not just about having a new CEO.

According to a release, in October 2012, CapitaLand announced the appointment of Lim Ming Yan as President & Group Chief Executive Officer (CEO) with effect from 1 January 2013. Ming Yan has taken over the leadership baton from Liew Mun Leong who has since relinquished his executive role in CapitaLand Limited.

CapitaLand said in a statement:

To continue building on the strong foundation created under Mr Liew's leadership, we are pleased to announce an organisational realignment with immediate effect. These changes are intended to sharpen our focus on key markets. Concentrating our talent and resources will make us more competitive, and enhance returns for our shareholders.

CapitaLand's organisational structure will be simplified and centered around the geographical businesses in Singapore and China as well as the core expertise in shopping malls under CapitaMalls Asia (CMA) and serviced residence under The Ascott Ltd (Ascott).

Olivier Lim, currently Chief Investment Officer, is appointed as Group Deputy CEO. Olivier will be responsible for the following roles:

• Continue as chairman of Australand;
• CapitaLand Financial Limited's (CFL) business which includes REIT policy and private equity fund management. John Pang will continue in his role as Managing Director, CFL, reporting to Olivier;
• M&A opportunities
• Regional and strategic investments which include Surbana Corporation, Storhub and CapitaLand's business in Japan, India, United Kingdom, Gulf Cooperation Council.
• Chong Lit Cheong will be appointed CEO Regional Investments responsible for these regional and strategic investments and will report to Olivier. Lit Cheong will relinquish his role as CEO CapitaLand Commercial Limited (CCL).
• CapitaLand Vietnam will be headed by CEO Chen Lian Pang who will relinquish his role in CapitaValue Homes (CVH) and report to Olivier in this new role. Lian Pang will also assist in assessing potential new markets in the region.
• Organisational performance & effectiveness which will include using performance metrics and management processes to drive return on equity (ROE), and providing market insights and strategy support for the Group and its businesses units in developing strategic clarity. This will be supported by Boaz Boon, senior VP Research and Andre Lim, VP Economics Unit & Corporate Planning.

Tan Seng Chai will be appointed as Group Chief Corporate Officer and his expanded scope of responsibilities will include Information Technology and Operations Control Unit. This is in addition to his existing leadership role in Group Human Resource, Organisational Development, Corporate Communications, Corporate Marketing, Legal and Secretariat, Corporate Security & Investigation and Office Administration functions. Seng Chai is tasked to further streamline corporate functions to be more nimble through standardisation and more directly supporting the business units.

Arthur Lang will continue his role as Group Chief Financial Officer to lead Group Finance, Group Treasury, Corporate Finance, Investor Relations, Risk Assessment and Management and Tax. He also has an administrative oversight over Internal Audit. One of Arthur's priorities is in sharpening the Group's focus on capital management and processes.

Wen Khai Meng will relinquish his role as CEO CFL and will be appointed as CEO CapitaLand Singapore. In this new role, Khai Meng will be overall responsible for residential and commercial property development businesses in Singapore as follows:

• CapitaLand Residential Singapore (CRS) headed by CEO Wong Heang Fine
• Commercial property development under CCL business
• Special Projects such as Singapore-Malaysia collaboration projects as well as development projects in the Malaysian market which will continue to be headed by Margaret Goh, CEO Special Projects
• Heang Fine and Margaret will report directly to Khai Meng in their respective roles.

Jason Leow will be leading the consolidated China development business as CEO CapitaLand China. He is based in China and will continue his role as the coordinating country CEO for China. He will be responsible for

• Residential and mixed development businesses currently under CapitaLand China Holding (CCH).
• Projects undertaken by CVH which develops the affordable housing in China.
• Raffles City China Fund and other related development fund management
• With a geographical-focused business organisation in Singapore and China, the Group can concentrate its capital and human resources for better economies of scale to achieve higher returns.

The shopping mall and serviced residence businesses will continue to be led by Lim Beng Chee, CEO CMA and Chong Kee Hiong, CEO Ascott respectively. Both businesses will collaborate closely with the geographical business units in Singapore and China to strengthen and focus on system, process and resources in areas such as capital management, corporate branding, supply chain management, external relations and human resource.

Olivier, Seng Chai, Arthur, Khai Meng, Jason, Kee Hiong and Beng Chee will form the top management bench of the Group led by Lim Ming Yan. Together with other CEOs namely, Lit Cheong, Lian Pang, Heang Fine and Margaret, the leadership team will formally be known as CapitaLand's Executive Management Council (EMC). EMC will meet regularly to chart direction, develop strategies and set policies for the Group. EMC will also be accountable for the Group's performance in achieving business goals, operational efficiency, organisational effectiveness and growing human capital.