SINGAPORE: As part of PIL’s ongoing renewal and succession plan, The Board has selected Mr. SS Teo, current Managing Director, to lead the Company in the role of Executive Chairman & Managing Director.
The outgoing Chairman Y C Chang has retired from the Board and relinquish all board responsibilities. However he will stay involved with the Company as Chairman Emeritus and will continue to advise the Board in certain strategic areas.
He said, “I have worked closely with SS Teo for more than 30 years and I am confident that he can provide the executive leadership necessary to bring PIL forward”.
“I would like to thank you for your confidence in PIL and your continued support in the last 50 years. Please continue to extend your support to SS Teo” said its outgoing Chairman Y C Chang.