BreadTalk Group CEO quits, founder George Quek to be interim CEO

Singapore

BREADTALK Group's chief executive officer (CEO) Henry Chu Heng Hwee, 49, has quit for "personal and health reasons", the food and beverage (F&B) operator announced on Wednesday.

His last day will be Dec 31, after which the company's founder and group executive chairman, George Quek Meng Tong, will take on the added role of group CEO in the interim, a company spokesman told The Business Times.

"Looking ahead, and in line with BreadTalk Group's leadership renewal process, we will be assessing suitable candidates for Mr Chu's replacement," the spokesman said.

As group CEO, Mr Chu is responsible for overseeing the group's global operations, focusing on strategic planning, investments, business development and regional expansion.

He was appointed to this role on July 1, 2017.

Between 2010 and 2012, he was CEO of BreadTalk's bakery division. He left the company in 2012 to become general manager of the Japanese Chain Restaurant Division (China) with Maxim's Caterers. In October 2016, he rejoined BreadTalk as group managing director, looking after its global F&B operations, which comprised the core businesses of bakery, food atrium and restaurants.

His careers before BreadTalk included being director of operations at Delifrance Singapore and general manager for retail sales and operations at Shell Eastern Petroleum.

Mr Chu's resignation comes almost two weeks after BreadTalk reported a plunge in its second-quarter earnings amid mounting costs.

Net profit more than halved to S$1.02 million for the quarter, even as revenue grew 9.8 per cent amid a surge in distribution and selling expenses.

BreadTalk, best known for its eponymous bakery chain, has more than 990 F&B outlets worldwide.

Its shares closed up three cents at S$0.72 on Wednesday.