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BreadTalk promotes 3 C-suite executives following group CEO's resignation

BREADTALK Group on Monday announced the promotions of three C-suite executives, who will all gain new roles while retaining their current ones, with effect from Oct 1.

This follows earlier news of the mainboard-listed firm's group chief executive officer's resignation.

Jenson Ong Chin Hock, 62, chief executive officer of BreadTalk's food atrium division since 2011, has been promoted to deputy group CEO.

Mr Ong will assist the group CEO in the group's overall management, including but not limited to setting the strategic direction and growth path of the group's business.

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William Cheng, 47, who has been CEO of BreadTalk's restaurant division since 2011, has been promoted to group chief operating officer. He will be responsible for the development and management of the group's overall operations.

Chan Ying Jian, 36, who has been group chief financial officer (CFO) since 2015, has been promoted as the group chief investment officer (CIO). He will be responsible for charting the group's growth through identifying merger or acquisition opportunities, as well as for the effective management of the group's investments.

"The group CIO role would be complementary to Mr Chan's concurrent role as the group CFO in the planning and execution of the group's corporate strategies," said BreadTalk.

On Aug 14, BreadTalk announced that group CEO Henry Chu, 49, had quit for "personal and health reasons", with his last day of service to be Dec 31. Company founder and group executive chairman George Quek will take on the added role of group CEO in the interim.

BreadTalk shares closed down 0.5 Singapore cent or 0.8 per cent at S$0.62 on Monday before the announcement.