NTUC Enterprise has named NTUC FairPrice CEO Seah Kian Peng (pictured) as its group CEO. He will hold double roles concurrently, while NTUC Enterprise executive director (ED) Kee Teck Koon steps down, effective 1 October 2019.
Seah first joined the NTUC – Administration and Research Unit in June 1996, and was seconded to NTUC FairPrice in February 2001 as chief operating officer. Seah succeeded as CEO (Singapore) in 2010 and CEO, NTUC FairPrice in 2016.
He said: “Building on the strong foundation laid by Kee, together with the support of NTUC, union leaders and members, as well as board members and colleagues from across all our NTUC Social Enterprises, we are well-positioned to enable and empower all in Singapore to live better and more meaningful lives.”
Meanwhile, Kee has served as its director since 2012, assuming the role of ED in January 2017 to ensure continuity in leadership to the NTUC group of social enterprises (SE) after the departure of the previous NTUC Enterprise group CEO. Kee will continue to serve in the NTUC group of SEs as director on the boards of NTUC Enterprise, NTUC FairPrice and as deputy chairman, NTUC Income.
During his term as NTUC Enterprise ED, Kee led the acquisition of Kopitiam to boost the company's food services offerings, and further fortify its daily essentials cluster comprising FairPrice, NTUC Foodfare and Kopitiam. The move sought to enable NTUC Enterprise to more effectively address the cost of living concerns around daily essentials. He also led NTUC Enterprise’s investment in ST Logistics, and drove the formation of MoneyOwl in 2018 to raise financial planning awareness and provide advice to the under-served segments in the community.
Kee said: “I am honoured to be able to play a part in the development of NTUC Enterprise and driving its transformation to ensure NTUC Social Enterprises remain relevant to the evolving needs of our workers and the community." He added that Seah, who is "a dynamic and visionary leader", will lead NTUC Enterprise into the next chapter of its transformation journey.
On the leadership change, NTUC Enterprise chairman Lim Boon Heng said that Kee has "strengthened the bench strength" of the NTUC Social Enterprises’ boards and senior management, and led the strategic transformation of NTUC Enterprise to meet the challenges of disruption. He added that moving forward, Seah's active involvement in the industry, and familiarity with the Group's social objectives will further strengthen the NTUC Enterprise's core and expedite its transformation.
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