Speaker of Parliament, Seah Kian Peng, steps down as group CEO of NTUC Enterprise
Adeline Sum appointed as successor, allowing Seah to concentrate fully on newly-appointed Parliament role
SINGAPORE — Singapore's newly-appointed Speaker of Parliament, Seah Kian Peng, will step down from his position as group chief executive officer of NTUC Enterprise and from the boards of its social enterprises.
This decision will allow him to fully concentrate on his responsibilities as the Speaker, said NTUC Enterprise in a media release on Monday (7 August).
Seah was sworn in as Singapore's 11th Speaker last Wednesday, following the resignation of Tan Chuan-Jin from parliament due to an affair with fellow MP Cheng Li Hui.
Leadership renewal
Adeline Sum, the current deputy CEO, will succeed Seah as group CEO from 1 October.
NTUC Enterprise chairman Lim Boon Heng said that Sum brings over three decades of experience from various roles within NTUC and NTUC Enterprise.
He described her as an "accomplished leader with a proven track record of success", and praised her deep understanding of the industry and dedication to employees, customers and stakeholders.
Seah Kian Peng's legacy at NTUC Enterprise
Seah, 61, has had an extensive career with the NTUC group of companies, holding various leadership positions. He previously served as the group CEO of NTUC FairPrice concurrently with his appointment as CEO of NTUC Enterprise.
During his tenure, NTUC Enterprise launched its first digital bank, Trust, in collaboration with Standard Chartered Bank and the FairPrice Group.
NTUC Enterprise group comprises of several companies, including Singapore's largest supermarket chain NTUC FairPrice, NTUC Foodfare, NTUC First Campus, NTUC Health and NTUC Income.
Lim paid tribute to Seah's contributions over almost two decades, stating, "Under his leadership, NTUC Enterprise and its social enterprises have achieved several notable milestones, especially in ensuring the continued availability of daily necessities during the COVID-19 pandemic, as well as in implementing various measures to moderate the cost of living amidst high inflationary concerns."
Seah expressed gratitude for his time at NTUC Enterprise and mentioned that, together with the management team, they have developed a sustainable roadmap for NTUC's social enterprises to "remain relevant to the community".
He expressed confidence that NTUC Enterprise will continue to "grow from strength to strength".
Do you have a story tip? Email: sgnews.tips@yahooinc.com.
You can also follow us on Facebook, Instagram, TikTok and Twitter. Also check out our Southeast Asia, Food, and Gaming channels on YouTube.
