Social Mixer 2024 Singapore
marketing interactive Content360 Singapore 2024 Content360 Singapore 2024
marketing interactive

NTUC FairPrice group CEO steps down

share on

NTUC FairPrice group chief executive officer (CEO) Tan Kian Chew will be stepping down at the end of this year after serving with the cooperative for 23 years.Tan will be joining the Singapore Labour Foundation as CEO. Seah Kian Peng takes over as CEO on 1 January 2016.Tan joined NTUC FairPrice in 1992 as assistant general manager. He rose quickly to become GM of operations and corporate planning in 1994, chief operating officer in 1995, deputy CEO in 1996 and eventually took over as its CEO in 1997.During his tenure, Tan focused NTUC FairPrice on its social mission of moderating the cost of living for daily essentials.  These include absorbing the initial impact of the goods & services tax, launching the “Everyday Low Price” basket of goods and introducing the 2% discount for Seniors and 3% discount for Pioneers.Tan is also credited for setting up NTUC FairPrice Foundation in 2006, to enhance the welfare of workers, and to help the poor and needy.Apart from delivering well on its social mission, under Tan’s leadership, NTUC FairPrice also grew quickly with annual sales growth from SG$752m in 1997 to SG$3.2b in 2014, attaining a market share of 59% in 2014.Seah, who has worked in both the public and private sector, joined the National Trades Union Congress – Administration & Research Unit (NTUC-ARU) in June 1996 and was seconded to NTUC FairPrice in February 2001 as chief operating officer.  In November 2001, Seah was re-designated as deputy CEO and continued to be overall-in-charge of supermarket operations.  In July 2006, with the announcement of the new Group corporate structure,  Seah was then appointed managing director of Singapore and was subsequently promoted to CEO of the Singapore business in April 2010.Under Seah’s leadership, FairPrice increased its footprint in Singapore growing from 99 to 290 stores with the opening of new formats to meet the evolving needs of the people in Singapore.  He also focused FairPrice on serving the community, especially in times of crisis, supporting local suppliers and advocating a sustainable way to do business by protecting the environment.Seah said, “NTUC FairPrice is an important part of the social fabric of Singapore and we will continue to focus on our social mission of moderating the cost of living for daily essentials while meeting the evolving needs and aspirations of the people of Singapore in this area”.“I am grateful to have spent 23 years with this great organisation, and deeply honored to have had the opportunity to lead it for the last 18 years.  I am leaving FairPrice with a sense of confidence as I am handing it over to Mr Seah Kian Peng who has proven himself to be a very capable and dynamic leader.  I look forward to my new career as CEO of the Singapore Labour Foundation (SLF)," Tan saidChairman of NTUC FairPrice Bobby Chin said, “I deeply appreciate Kian Chew’s 23 years of service to FairPrice, in which time, he has helped to build and strengthen the social enterprise."

share on

Follow us on our Telegram channel for the latest updates in the marketing and advertising scene.
Follow

Free newsletter

Get the daily lowdown on Asia's top marketing stories.

We break down the big and messy topics of the day so you're updated on the most important developments in Asia's marketing development – for free.

subscribe now open in new window