Singapore: The Keppel Corporation Board has announced that, in line with its predetermined succession plan for senior management, the following key executive moves will take place with effect from January 1, 2009:
Keppel Corporation's executive chairman, Lim Chee Onn, will relinquish his role as ceo of Keppel Corporation, although he will continue to serve as non-executive chairman of the Keppel Corporation Board. In this role, in addition to ensuring effective operation of the Board, he will oversee the group's thrust in sustainable development initiatives. He will continue to contribute his efforts to expand and strengthen Keppel's geographical footprint in China, Vietnam, India and the Middle East.
Choo Chiau Beng assume the role of ceo of Keppel Corporation and relinquish his position as ceo of Keppel Offshore and Marine (KOM). He will continue to serve as non-executive Chairman KOM.
"Given the prevailing volatile financial and economic conditions and the uncertain operating environment, we must continue to prepare ourselves for a totally different economic and business landscape," said Chee Onn. "We shall ensure that Keppel is well placed to seize opportunities that will arise from the current global economic crisis. I am confident that Chiau Beng will succeed in sustaining the Group's continued efforts to further grow our competencies, increase our competitiveness, seize business opportunities and penetrate new markets in order to deliver long term stakeholder value."
Since his appointment in the company in 1983, Chee Onn has held various key positions in the company before he assumed the position of executive chairman in Jan 2000. Under Chee Onn's leadership, Keppel crossed the $1bn profit mark in 2007. He also initiated the Sustainable Development and Living business, which led to the Tianjin Eco-city development and other mega environmental engineering projects in the Middle East.
Other changes to management will see Teo Soon Hoe retain his scope of responsibilities as senior executive director and group finance director.
Tong Chong Heong, currently md and coo of KOM, will also be appointed to the role of ceo of KOM. [22/12/08]
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