THE chief executive officer (CEO) of enterprise agency Spring Singapore will step down on July 31, 2015, to join the private sector, the statutory board said in a statement on Thursday.

Tan Kai Hoe had joined Spring as deputy CEO in June 2009 and was promoted to CEO in May 2013. After he leaves, Spring's deputy CEO Ted Tan will be the acting CEO until a new chief executive is appointed, Spring said.

Mr Ted Tan, who joined Spring in April 2009, leads the agency's industry and enterprise development efforts.

Chee Hong Tat, Second Permanent Secretary at the Ministry of Trade and Industry, said in a statement: "Under Kai Hoe's leadership, Spring has sharpened its focus on SME (small and medium enterprise) transformation efforts."