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THE chairman of M1, Teo Soon Hoe, passed away on Sunday, after serving on its board for nearly two decades.
The group announced on Monday that board director Low Huan Ping will serve as the acting chairman in the interim, pending the formal appointment of the company's next chairman.
Mr Teo had been appointed to the board since May 7, 1996, and became chairman of the company on March 1, 2009. He was also a member of the company's remuneration and risk committees.
In a statement to the SGX on Monday, M1 expressed its heartfelt appreciation for its late chairman's 18 years of dedicated service and unwavering commitment in guiding the company.
"Mr Teo had been instrumental in the growth and transformation of the company from a pure mobile communications player to a company offering a full-service quad play experience. His business acumen, foresight and focus on execution excellence enabled the company to scale to greater heights under his strategic guidance," the statement said.
It added that Mr Teo's strong leadership made a significant difference to the company on the charting of its strategic directions and business, and it is deeply grateful to Mr Teo for his invaluable contributions.