GLP Capital Partners (“GCP”) Announces Changes to its Board of Directors and Leadership with Dr. Seek Ngee Huat to become Chairman of the Board, Mr. Thomas M. Flexner to join GCP’s Board and GCP’s Founder Mr. Ming Mei to assume the role of Chief Executive Officer
Singapore, 21 October 2023 – GLP Capital Partners Limited (“GCP”), a leading global alternative asset manager that focuses on thematic investing across real assets and private equity, today announces changes to its Board of Directors and Executive Leadership.
Dr. Seek Ngee Huat, who has served on GCP’s majority independent Board of Directors as the Lead Independent Director since 12 December 2022, will become Non-Executive Chairman of GCP at the end of the year. Dr. Seek has been a leading figure in the alternative asset management and global real estate industries for over 40 years, and was formerly a Director of GIC Pte Ltd, President of GIC Real Estate Pte Ltd, a Director of Brookfield Corporation, Chairman of ULI Asia Pacific and Chairman of Global Logistics Properties Ltd, prior to its privatization in 2018. The Company is delighted that Dr. Seek will become Chairman of its Board.
GCP is also delighted to announce that Mr. Thomas Flexner, most recently Citigroup’s Global Head of Real Estate and a member of Citi’s Institutional Clients Group’s Management and Executive Committees, will join the GCP Board of Directors with effect from 20 December 2023. Mr. Flexner’s appointment further strengthens GCP’s independent Board of Directors and focus on delivering best-in-class governance.
“We are very excited to announce the further strengthening of our independent Board of Directors. The depth of experience and expertise of our Board provides tremendous leadership and perspective as we build GCP into an alternative asset manager of the future,” Mr. Ming Mei, Founder of GCP and the current Executive Chairman, said.
Mr. Mei will at the end of the year assume the role of Chief Executive Officer while also remaining an Executive Director of the GCP Board and CEO of GLP Pte Ltd. In addition, Mr. Michael Steele, currently GCP’s Chief Administrative Officer, CLO and member of the Executive Committee, will assume the new role of President of GCP and, alongside Mr. Mei and GCP’s Executive Committee, be responsible for the day-to-day management of the business.
These changes come as Mr. Alan Yang, the current CEO of GCP, has decided to step back at the end of the year from his day-to-day corporate responsibilities as CEO to dedicate more time to his loved ones and philanthropic endeavors. GCP is delighted that Mr. Yang will remain with the organization in a number of important capacities, including continuing as a member of GCP’s Board of Directors and the Global Investment Committee as well as a Senior Advisor to the company. Mr. Yang will also assume a new role as Chairman of the Jeffrey H. Schwartz Foundation, GCP’s charitable foundation, in keeping with his desire to focus on philanthropic interests.
“I deeply respect Alan’s decision to step back from his CEO responsibilities, and we are very grateful for his significant contributions to GCP. Alan has been a great partner, friend and an important part of our leadership team over many years, and we are delighted that he will continue to be a part of our organization in our next chapter in key capacities. We are also thrilled that Alan will lead our charitable foundation, renamed this year after our late co-founder Jeffrey Schwartz who was a mentor figure to us all. We are excited about the future of GCP and are strategically well-positioned to identify, build, and scale global businesses in fast growing new economy sectors. We are committed to delivering sustainable long-term value creation for our stakeholders and investors,” said Mr. Mei.
Mr. Yang noted, “I couldn’t be prouder of where the company is today and I’m truly grateful to everyone on our team who has supported my time as CEO. I have incredible confidence in our leadership team, whom I have worked with for many years, to lead us into the future. I’m looking forward to being a part of the next chapter of GCP’s history continuing as a member of GCP’s Board and Investment Committee, as a Senior Advisor to the company and leading our critical philanthropic efforts.”