SINGAPORE: Mr Lim Jit Poh will retire as chairman of SBS Transit, a position he held for 18 years, the company said on Thursday (Mar 25) in a news release.
“I believe the time is right for me to hand over the reins to a new chairman who will lead the group through its next phase of growth. This is part of the renewal of the board which began four years ago,” said Mr Lim.
AdvertisementAdvertisement“The board, as it stands now, is well balanced in terms of tenure, age and gender. The strength and expertise that is currently in place will be well placed to ensure that SBS Transit grows from strength to strength going forward.”
Mr Lim will continue to serve as a senior adviser to SBS Transit after the company’s annual general meeting (AGM) on Apr 29 “to provide continuity to the group as it navigates a changing environment in a tightly regulated industry”.
His successor will be announced at the AGM, said SBS Transit. Board members Mr Benny Lim and Mr John De Payva will also be retiring.
Mr Lim joined SBS Bus Services as a director in 1997, and later served on the board of DelGro Corporation after the restructuring of SBS. ComfortDelGro now owns 75 per cent of SBS Transit.
AdvertisementAdvertisementMr Lim has been SBS Transit’s chairman since 2003.
“As chairman of the board, I have a personal responsibility to ensure that the board remains strong even as it undergoes renewal,” Mr Lim Jit Poh said.
“In a changing landscape, it is important to ensure that new directors are able to contribute actively and significantly.
“At the board and management level, we are always cognisant of the fact that SBS Transit is not just any listed entity, it is also a public transport operator with a sizeable workforce.
Advertisement“Our responsibilities go beyond just our shareholders, they also extend to the commuting public, the union and the regulator.”
SBS Transit said that its board of directors consists of experts in fields such as technology, engineering, accountancy, law and the media. Directors also have experience in the government, labour and business sectors.
Let's block ads! (Why?)
More...