SINGAPORE: Online grocery and food delivery service honestbee confirmed on Thursday (May 2) that its co-founder Joel Sng is stepping down as chief executive officer.
He will be replaced by Mr Brian Koo with effect from Thursday. The move is part of an "ongoing strategic review of our business", an honestbee spokesperson said in a statement.
"Brian will bring his passion for our mission to his new role," said the spokesperson.
"He will take the lead and work with the current team to ensure that honestbee is in the best possible position to support the business in Singapore and other geographies going forward."
Calling Mr Koo "our earliest supporter", Mr Sng said his successor has been a "key investor" of the company.
"He was also instrumental in helping us define honestbee’s purpose and mission from day one," Mr Sng added.
"I am confident that he would be able to bring the company to the next level, supported by the newly appointed executive team comprising key leaders of our organisation."
Mr Koo thanked Mr Sng for his role in the company.
"I would like to express my appreciation for Joel, as he steps away from his current role, for taking honestbee from zero to one," he said.
"I will be working with the executive team to conduct an in-depth review of our business to focus and align our strategic interests across our various geographies and verticals, and take the opportunity to articulate a clear vision for the future of honestbee."