Honestbee has appointed Brian Koo (pictured left) as CEO as of today. This comes following the exit of co-founder and CEO Joel Sng (pictured right).
A spokesperson said, “As part of an ongoing strategic review of our business, there have been changes to the leadership team at honestbee. Koo will bring his passion for our mission to his new role. 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.”
The spokesperson added that the company will continue to innovate and improve its business to stay relevant in today’s rapidly-changing business environment. “We remain committed to making great food experiences accessible to customers across Asia,” she said.
“Koo has been our earliest supporter and a key investor. He was also instrumental in helping us define honestbee’s purpose and mission from day one. 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,” said Sng.
Koo added: “I would like to express my appreciation for Sng, as he steps away from his current role, for taking honestbee from zero to one. 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.”
Meanwhile, Honestbee also clarified that it will be halting its services in Indonesia and Hong Kong, as well as its food vertical in Thailand as part of an ongoing strategic review of its business.
A spokesperson from honestbee said to Marketing that its services in Japan and the Philippines, along with specific partnerships in other markets will also temporarily be suspended as part of this review. According to honestbee, some roles within the organisation will no longer be available as approximately 10% of its global headcount in the organisation is said to be affected.
Responding to Marketing’s queries on changes in Singapore and Malaysia operations, a honestbee spokesperson said the status of honestbee’s business stands unchanged in these two markets.