Keppel Corporation Limited announced that Teo Soon Hoe, Senior Executive Director, Keppel Corporation will retire June 1, 2014.
Teo will step down as Chairman of Keppel Telecommunications & Transportation Ltd (Keppel T&T) and non-independent director of Keppel Infrastructure Fund Management Pte Ltd (KIFM), Trustee Manager of Keppel Infrastructure Trust, with effect from the same date.
Teo will continue to represent Keppel Corporation as its nominee director on the boards of Tianjin Eco-city companies, and k1 Ventures Limited. Further, Keppel Land Limited (Keppel Land) and Keppel T&T have appointed him as Senior Advisor to their respective boards and he will also continue to represent Keppel T&T as its nominee director on the board of M1 Limited.
Loh Chin Hua, Chief Executive Officer of Keppel Corporation and non-independent director of Keppel T&T will take over as Chairman, Keppel T&T. Concurrently, Chan Hon Chew, Chief Financial Officer of Keppel Corporation, will be appointed as director to the board of Keppel T&T.
Dr. Ong Tiong Guan, CEO of Keppel Infrastructure Holdings Pte Ltd, will take Teo's place in KIFM as a non-independent director.
All appointments are with effect from June 1, 2014.
Teo began his career with the Keppel Group in 1975 when he joined Keppel Shipyard. He rose through the ranks and was seconded to various subsidiaries of the Keppel Group. Teo was Keppel Corporation's Group Finance Director from 1985 to 2011.
Dr. Lee Boon Yang, Chairman of Keppel Corporation said, "On behalf of the board of Keppel Corporation and companies in the Group, I would like to express our deepest gratitude and appreciation to Soon Hoe for his forty years of dedicated service. Soon Hoe has been a hallmark of financial prudence and discipline in every appointment he held over the past four decades with Keppel.
"Throughout his career in Keppel, Soon Hoe has demonstrated integrity and enduring commitment to the growth of the entire Group. His business acumen and focus on execution excellence have helped to build a strong foundation for the Group. I am happy to note that Soon Hoe has agreed to serve as Senior Advisor to both Keppel Land and Keppel T&T. He has also agreed to continue as Keppel Corporation's nominee director on the Sino-Singapore Tianjin Eco-city board. Through these appointments, the Keppel Group will continue to benefit from his rich experience."