New group CEOs for ComfortDelGro, SBS Transit

SINGAPORE: ComfortDelGro on Thursday (Dec 8) announced that Mr Cheng Siak Kian will take over as its managing director and group CEO with effect from Jan 1 next year.

He will succeed Mr Yang Ban Seng, who has helmed the group for the past five-and-a-half years, ComfortDelGro said in a media release.

Mr Cheng, 53, is currently the group CEO of ComfortDelGro subsidiary SBS Transit and has been serving as ComfortDelGro's group deputy CEO since March. He will relinquish both positions when he takes on his new role.

In a separate media release on Thursday, SBS Transit announced that Mr Jeffrey Sim Vee Ming would succeed Mr Cheng as its group CEO, also with effect from Jan 1, 2023.

Mr Sim, 46, is currently the CEO of SBS Transit's rail business and will continue to hold this position.

ComfortDelGro group chief financial officer Derek Koh, meanwhile, will take up the role of group deputy CEO while retaining his current position.

In a statement on his appointment, Mr Cheng paid tribute to Mr Yang, 66.

"Ban Seng steered the group through some really difficult times. He has done a truly commendable job ensuring jobs are kept safe whilst navigating the many challenges, especially in the last two years," he said.

"The baton is now passing onto me to build upon that growth momentum."

Mr Cheng also looked ahead to growth opportunities for ComfortDelGro under his leadership.

"With the support of our people, I am confident that we will continue to broaden and deepen our capabilities," Mr Cheng said.

"The bus and taxi businesses will continue to be our main engines of growth, but we hope to add rail services as a strong third leg as we expand overseas. As we grow our business, we will also build upon the inroads we have made in the field of sustainability."

Mr Sim also looked ahead to opportunities for growth.

"I am very honoured by the trust that has been placed in me to lead SBS Transit to its next phase of growth in an extremely challenging environment," said the statement. 

"I have big shoes to fill but I am determined and together with the resolute and passionate people at SBS Transit, and the strong support of the union, we will build on our strengths to scale new heights to make every journey sustainable and a delight for our passengers."