Asia's online property portal, PropertyGuru, has recently announced that it has bolstered its Board with the appointment of four new Directors, including a new Chairman.
Global private investment firm TPG's Partner and Managing Director Ganen Sarvananthan has been named the Chairman of PropertyGuru. Paul Bassat, Partner and Co-founder of investment company Square Peg Capital; Emtek Group Commissioner Jay Wacher; and David Gowdey of TPG also become Directors of the company.
The four new Directors join PropertyGuru co-founders Steve Melhuish and Jani Rautiainen on the Board. Additionally, Tunku Ali Redhauddin Muhriz, a senior advisor to TPG, becomes Chairman of PropertyGuru Malaysia.
According to a media statement, the new Board appointments follow the investment of S$175 million in PropertyGuru by a strategic investment consortium comprising TPG, Emtek Group and Square Peg Capital, which was formally completed on 22 June, 2015.
"As we continue to strengthen our leadership position and grow as a company, it is important that our Board evolves too," said Steve Melhuish, CEO and co-founder of PropertyGuru. "Our Chairman and each new Board member brings significant and relevant experience, insights and business networks to the Board. This will help PropertyGuru capitalise on our now expanded capacity to pursue our growth agenda and seize new opportunities in the region's digital space."
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