Adeline Sum to take over from Seah Kian Peng as CEO of NTUC Enterprise
NEWLY minted Speaker of Parliament Seah Kian Peng will be stepping down from his role as group chief executive of NTUC Enterprise (NE) to enable him to carry out his duties as Speaker “with singular focus and commitment”, a statement from the co-operative said on Monday (Aug 7).
He will also relinquish his appointment on the boards of its social enterprises. The change will take effect from Oct 1.
Replacing him is current deputy CEO Adeline Sum.
Said Seah: “It has been a privilege for me to serve at NTUC Enterprise. Together with our management team, we have developed a sustainable road map to embark on our transformational journey with our social enterprises to ensure that we remain relevant to the community.”
Addressing staff, NE chairman Lim Boon Heng paid tribute to Seah for his leadership roles in NE and FairPrice Group over nearly three decades. NE is a holding co-operative set up by the National Trades Union Congress (NTUC), Singapore Labour Foundation and affiliated unions.
“Under his leadership, NE and its social enterprises have achieved several notable milestones, especially in ensuring the continued availability of daily necessities during the Covid-19 pandemic, as well as in implementing various measures to moderate the cost of living amid concerns of high inflation,” said Lim.
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He added that NE had also launched its first digital bank Trust during Seah’s tenure, and it has since crossed the S$1 billion mark in deposits.
“The board records its thanks and appreciation to Kian Peng for his dedication and commitment and wishes him the very best in his new parliamentary role,” Lim said.
He added that the board is pleased to appoint Sum as the successor, given she is “an accomplished leader with a proven track record of success within NE”.
“She has more than three decades of experience holding different portfolios across NTUC and NE,” said Lim. “With a deep understanding of the industry and keen dedication to our employees, customers and stakeholders, she is in a strong position to take over the reins.”
* Amendment note: An earlier version of this story stated that Seah had leadership roles in NTUC Enterprise and FairPriceGroup over nearly two decades. NTUC Enterprise has clarified that it should be three decades.
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