Bench strength at CapitaLand means that the group can weather recent departures of senior executives even as another top executive heads for the door, said group chief executive Lim Ming Yan.
Mr Lim told a briefing yesterday that CapitaMalls Asia (CMA) deputy chief executive Simon Ho is leaving the firm.
"I very much would like him to stay, but I think he has made up his mind, so it's a personal decision and I respect the personal decision. I think we just have to move on," Mr Lim said.
CapitaLand has seen a spate of high-level departures in the past few months.
The firm announced earlier this month that CapitaLand Residential Singapore chief executive Wong Heang Fine had resigned.
CMA chief executive Lim Beng Chee's resignation was announced last month , while CapitaLand deputy CEO Olivier Lim's departure was made known in June.
The CapitaLand group CEO stressed, however, that the firm has a core management team in place, adding that it was not dependent on just a few top people at the group.
A team of some 50 key personnel is in place to drive profitability at the firm, thanks to its strong succession planning over the years, he added.
Many of them are also relatively young, with the average age of the core team coming in at around 45 years.
"We have a new team of people, we have moved quite a number of our younger colleagues up into positions," Mr Lim said.
"When they took on the positions, I could see a lot of passion and enthusiasm and new ideas coming through."
Mr Lim does not expect further resignations, though he acknowledged that his staff's high calibre means they will always be targets for head-hunters. Analysts agree CapitaLand has enough resources despite the loss of top personnel.
Macquarie ASEAN head of research Soong Tuck Yin said: "It's a big organisation and having covered the stock for so long... I think they do have a deep leadership team to carry them through this period."
Another analyst who declined to be named said while there are enough capable people in the firm, there are still concerns.
"Some investors are concerned as to why so many senior people are leaving and will they transfer their knowledge to a competitor," he said.
CapitaLand shares closed three cents higher at $3.01 yesterday
This article was first published on Oct 24, 2014.
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