SINGAPORE: Singapore Business Federation (SBF) CEO Ho Meng Kit will retire from his position, with his deputy Lam Yi Young set to succeed him, said SBF on Wednesday (Dec 2).
Mr Lam will be appointed as the new CEO on Jan 1, while Mr Ho will retire on the same day after "10 years of sterling service", said SBF in a media statement.
It added that Mr Ho will continue to "help SBF as senior advisor".
SBF said that after his appointment in 2011, its membership grew by nearly 50 per cent from 18,400 to 27,200 members today.
And in 2013, the SBF Foundation was set up as a business community platform for corporate social responsibility.
The federation also said it relocated to its new and permanent premises at SBF Center in 2017 to provide "a better space for members to network, and for SBF to work with its members".
"Under Mr Ho’s leadership, SBF established itself as Singapore’s apex business chamber with a strong commitment to serving the business community while creating value for its members," it said.
SBF added: "Over the past decade, businesses have had to grapple with challenges such as the rise in trade protectionism, digitalisation and the ongoing COVID-19 pandemic. Mr Ho has helped steward SBF and the business community through these challenges."
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MR LAM'S BACKGROUND
Mr Lam will step up as CEO "to take SBF into its next lap of growth", said the federation.
Prior to joining SBF in July 2020, Mr Lam held several leadership positions in the public service, including as deputy secretary (industry) in the Ministry of Trade and Industry, deputy secretary (policy) in the Ministry of Education and chief executive of the Maritime and Port Authority of Singapore.
Mr Lam said: “As Singapore continues to work towards an economic recovery post COVID-19, there is much that SBF will need to continue doing to help our companies emerge stronger.”
SBF chairman Lim Ming Yan thanked Mr Ho for his "great contributions to SBF and the business community in Singapore over the past 10 years".
"Under his visionary leadership, SBF has grown to be a well-respected and recognised business chamber both locally and internationally," he said.
Welcoming Mr Lam to his new role, Mr Lim said: "Yi Young’s experience in the development of industry transformation maps and his keen understanding of the Singapore economy will be valuable in deepening SBF’s role as the apex business chamber moving ahead."