PSA chairman Fock Siew Wah retiring, to be replaced by deputy

THE group chairman of state-owned Singapore port operator PSA International is retiring after 13 years in the role, with deputy chairman Peter Voser set to succeed board leader Fock Siew Wah on Apr 1.

Mr Fock, a 78-year-old banking veteran who became the group's chairman in 2005, will stay on as special adviser until July 31, PSA said on Friday.

During his tenure, cargo volumes doubled to more than 80 million twenty-foot equivalent units (TEUs), while its international footprint grew to more than 50 terminals in 17 countries, PSA noted.

Now, Mr Voser, 60, has been tasked with building up PSA's position in the supply chain sector.

PSA group CEO Tan Chong Meng said: "We look forward to benefiting from his able stewardship and sharp acumen as we continue to grow our core business in port management and development, while building up new and complementary capabilities in supply chain orchestration."

Mr Voser said: "I intend to continue steering the group towards a sustainable growth trajectory built on integrity, trust and collaboration with our internal and external stakeholders. PSA is already a brand name in the ports and shipping circles and it is my hope that PSA will achieve a strong standing in the sphere of supply chain orchestration as well."

Mr Voser, who had been chief executive of Royal Dutch Shell from 2009 to 2013, sits on the International Advisory Council of the Economic Development Board. His other roles include a board seat at PSA's parent company, state investment firm Temasek Holdings, since 2015.