Saturday 14 Sep 2024
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SINGAPORE (Dec 8): Yeo Hiap Seng says its CEO Tjong Yik Min, 62, will retire from April 30 next year and that banker Melvin Teo will take the helm at the beverage group.

Tjong joined Yeo Hiap Seng as its president and chief operating officer in July 2002. He became CEO in April 2010.

Under his watch, the company privatised Yeo Hiap Seng (Malaysia) and streamlined the group's overall operations, Yeo Hiap Seng said in a statement this morning.

Tjong had intended to step down by the end of this year but postponed his retirement for four months as Teo could not come on board until January 2015, according to the company.

Teo, 43, will be appointed CEO-designate from Jan 1.

He was CEO of DBS Bank in China between January 2000 and September 2012, and was president director of PT Bank DBS Indonesia from October 2012.

Teo joined DBS in July 2005. Before that, he held various positions at Standard Chartered Bank as well as Bank of America.

 

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