Keppel Corporation Limited's Board of Management announced changes to the company's top management, with Keppel Corp's current Chief Financial Officer (CFO) Loh Chin Hua succeeding Choo Chiau Beng as CEO Jan. 1, 2014.
Chow Yew Yuen - Chief Operating Officer (COO) at Keppel Offshore & Marine Ltd (Keppel O&M) - will replace the offshore and marine unit's CEO Tong Chong Heong from Feb. 1, 2014.
Choo, 65, and Tong, 66, will be appointed as Senior Advisors to the respective Boards of Keppel Corp, and Keppel O&M and Keppel Infrastructure, thereafter.
"The Board has worked over several years with Chiau Beng and his senior management team on succession planning. Today's announcement is the fruition of robust and systematic efforts to ensure that people with the right caliber are in place to grow Keppel from strength to strength," Chairman of Keppel Corp Lee Boon Yang said in a press release.
"On behalf of the Board, I would like to welcome both Chin Hua and YY Chow in their new positions and look forward to working closely with them to advance Keppel's interests," Lee said.
Loh, 52, was appointed as Keppel Corp's CFO in January 2012 and has been supporting the CEO in strategic business planning, major investment initiatives and decisions, financing strategy as well as investor relations. He has over 25 years of experience in real estate investing and fund management spanning the United States, Europe and Asia. He was managing director (MD) of Keppel Land's real estate fund management arm, Alpha Investment Partners, which he founded in 2003. Prior to Alpha, Loh was MD at Prudential Investment Management Inc, and held several senior appointments in the Government of Singapore Investment Corporation.
Chow, 58, has been with the company for 32 years and was based in the United States for 18 years. During his overseas posting, Chow was instrumental in establishing Keppel O&M presence in the Americas. He was appointed Keppel O&M's MD in 2011 and later its COO.
"Chin Hua and YY Chow were identified and groomed, and I am glad that they have risen to the challenge. They have proven themselves to be highly capable and astute leaders with strong Keppel core values, vision and passion," Choo said in the press release.
Choo was appointed CEO of Keppel Corp. Jan. 1, 2009, replacing Lim Chee Onn, while Tong succeeded Choo as CEO of Keppel O&M.
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