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THE chairman of M1, Choo Chiau Beng, will step down from the board with effect from Jan 1, 2018. M1's board of directors has appointed Danny Teoh Leong Kay as a non-executive, non-independent director and chairman designate of the board with effect from Tuesday. Mr Teoh will succeed Mr Choo as chairman with effect from Jan 1, 2018.
According to M1, Mr Choo expressed his wish to step down from the board, on reaching the age of 70.
A former managing partner of KPMG LLP Singapore, Mr Teoh is currently an independent and non-executive director of Keppel Corporation Ltd and chairs its audit committee. He also serves on the boards of DBS Bank Ltd, DBS Group Holdings Ltd, Changi Airport Group (Singapore) Pte Ltd, DBS Foundation Ltd and Ascendas-Singbridge Pte Ltd.
Mr Choo joined the board in 2015 and took up responsibility as chairman at a critical time of transition, following the demise of M1's former board chairman, Teo Soon Hoe.
A company statement said Mr Choo has "strategically guided" the company through a fast-evolving telecommunications market with his "dedicated service, business acumen and drive".
The statement further added: "The board of directors and management of the company would like to record their deep appreciation to Mr Choo for his strong leadership, dedication and invaluable contribution to the company and wish him well for the future."
Talking about Mr Teoh, the company added that with his "extensive experience in both audit and business advisory", M1 looks forward to his "strategic leadership and guidance in leading the board as well as the company in a challenging competitive landscape".