SBS Transit appoints Bob Tan as new chairman

SBS Transit announced on Thursday that Bob Tan will be succeeding Lim Jit Poh as chairman of the board, effective Friday.

Mr Tan also sits on the boards of Sembcorp Marine and Singapore Post, and "has a wealth of experience in the area of corporate governance, having held many directorships over the last four decades", said SBS Transit in a bourse filing.

Other appointments under Mr Tan's belt include his roles as chairman of Ascott Business Trust Management, Ascott Residence Trust Management, Sentosa Development Corporation, and Jurong Engineering Limited. He is also a member of the Monetary Authority of Singapore's Corporate Governance Advisory Committee and Securities Industry Council.

Additionally, he has had prior experience in the public transport sector, having been on the SMRT board from 2006 to 2017.

Said Mr Tan: "These are exciting times for the public transport sector, which is undergoing structural change. I am honoured to be part of SBS Transit, and I look forward to working with the board and management as we respond to this change and the ongoing challenges of the Covid-19 pandemic."

Mr Lim, who retired after 18 years at the helm following SBS Transit's annual general meeting on Thursday, will stay on as senior adviser to "ensure continuity in the group as it navigates a changing environment in a tightly regulated industry".

Said Mr Lim: "I am happy to be handing over the reins to Mr Bob Tan who is very seasoned and, in my opinion, well-qualified to lead the group into the next phase of growth. I nominated him to the board based on his strong qualifications and experience, and I am glad the board has agreed with me."

Shares of SBS Transit closed down S$0.01 or 0.31 per cent to end at S$3.18 on Thursday.