Press Holdings (SPH) will appoint former Neptune Orient Lines (NOL) chief executive Ng Yat Chung as its new CEO, while current CEO Alan Chan and deputy CEO Patrick Daniel will retire, the media and property group announced on Friday.
Mr Chan, 64, is retiring after 15 years at the company to allow for renewal of the company’s management and board, said SPH, which owns The Business Times. His exit will be effective on Sept 1, 2017.
Mr Daniel, 63, will continue as a part-time consultant to assist Mr Ng. Current deputy CEO Anthony Tan will remain at his post.
Mr Ng, who is currently an independent director of SPH, will become an executive director from July 1. Independent director Andrew Lim will replace Mr Ng as chairman of the board risk committee.