Koh Beng Seng to step down as Great Eastern chairman

GREAT Eastern : G07 0% board chairman Koh Beng Seng will resign on Apr 21 when the insurer’s annual general meeting concludes. Replacing him will be Soon Tit Koon, who will take on the chairman role the day after.

Koh has served as board chairman since 2014 and has been on Great Eastern’s board since 2008. Upon his resignation, he will also relinquish his roles as chairman of the executive and risk management committees and as a member of the nominating, remuneration and sustainability committees.

Koh is the chief executive of Octagon Advisors. He was previously UOB’s deputy president and executive director and spent 24 years with the Monetary Authority of Singapore.

Soon, meanwhile, has over 30 years of experience in business, management, banking and finance. He held senior positions in OCBC, including chief financial officer and head of group investments. Before OCBC, Soon was CFO of Wilmar Holdings from 2000 to 2002 and managing director of Citicorp Investment Bank from 1993 to 2000.

Non-executive independent director Thean Nam Yew will also step down at the conclusion of the company’s annual general meeting on Apr 21 to focus on his other commitments, after a six-year stint. He will also relinquish his role as a member of the audit committee and executive committee.