SINGAPORE: The directors of Singapore Exchange (SGX) have elected a new chairman of the Board to succeed Mr Chew Choon Seng from September this year.
In a news release on Monday (Aug 29), SGX said Mr Kwa Chong Seng will succeed Mr Chew when he retires at the conclusion of SGX's Annual General Meeting on Sep 22.
Mr Chew joined the Board in December 2004 and has been the chairman since January 2011.
According to SGX, Mr Kwa was elected to the Board in September 2012. He was appointed the lead independent director in December 2013, and has been the chairman of the Nominating & Governance and the Remuneration & Staff Development Committees since September 2013.
Said Mr Chew: “The exchange is an important component of Singapore's financial system. It has been an honour to be of service and I am thankful for the support and cooperation of my fellow Board members and all the people, inside and outside the organisation, whom I have worked with.
“I trust that Mr Kwa will enjoy the same. Mr Kwa's capabilities, experience and accomplishments in industry, business and public service are well known and highly regarded. SGX will definitely be well steered."
Mr Kwa added: “"I am honoured to have this opportunity to contribute. Filling Mr Chew's big shoes will be difficult as SGX has many stakeholders who all want SGX to succeed. I will do my best to serve these important stakeholders."