18 Nov 2013
Current Chairman Mr Ng Kee Choe will assume role of Special Advisor for the Board
Singapore, 18 November 2013 – NTUC Income today announced that Mr Stephen Lee Ching Yen has been appointed as Chairman to succeed Mr Ng Kee Choe, effective 1 Jan 2014. The insurer also announced that Mr Ng will assume the role of Special Advisor to the Board starting 1 January 2014.
Mr Lee has a distinguished career in both the private and public sectors. He is the Chairman of Singapore Airlines and SIA Engineering, an alternate member of the Council of Presidential Advisers and President of the Singapore National Employers’ Federation.
He is also Managing Director of Shanghai Commercial & Savings Bank Ltd (Taiwan) and Great Malaysia Textile Investments Pte Ltd. His other appointments include directorship in Shanghai Commercial & Savings Bank Ltd (Hong Kong), COFCO Corporation (China) and the Singapore Labour Foundation, and membership of the Temasek Advisory Panel and National Wages Council.
Mr Lee was a Nominated Member of Parliament from 1994 to 1997. He was awarded the Distinguished Service Order Award in 2006 and the Public Service Star Award in 1998.
“Stephen is an accomplished leader in business and in public service,” said Mr Lim Boon Heng, Chairman, NTUC Enterprise. “NTUC Income is fortunate to have him as its new Chairman. I am confident that Stephen will lead NTUC Income to greater success.”
Mr Lim added, “I want to thank Kee Choe for his contributions to NTUC Income over the last nine and a half years. Under his leadership, NTUC Income has transformed and made significant progress, demonstrating its ability to do well and do good at the same time.”
“It has been a great honour serving NTUC Income,” said Mr Ng Kee Choe. “Steering NTUC Income’s transformation has been a challenging and rewarding experience. Today NTUC Income is a modern, professional organisation. For this, I thank my fellow directors, past and present, for their strong support and commitment to the cause. With a strong balance sheet and sound financials, I have no doubt that NTUC Income will continue to advance and make insurance affordable and accessible to all.”
Mr Ng Kee Choe added, “I am delighted we will have Stephen to lead Income.”
Mr Ken Ng, Chief Executive, NTUC Income, welcomed the new appointments.
“I am pleased that Kee Choe will continue with NTUC Income in his new capacity as Special Advisor to the Board. We value his insights and experience and I thank him for his many years of service to us,” he said. “I am pleased to welcome Stephen on board and look forward to working with him. His broad experience with many leading companies and his commitment to public service will benefit NTUC Income as we continue our journey towards excellence.”
“It is a privilege to serve NTUC Income as its Chairman,” said Mr Stephen Lee. “NTUC Income is an important institution that takes care of the needs of two million customers across all segments of society. It plays an important role in our society and I am happy for the opportunity to ensure its continuing success.”