ENTERPRISE Singapore (EnterpriseSG) will change its leadership model such that it will no longer have a chief executive officer, nor a non-executive chairman.

On Wednesday (Jan 24), the Ministry of Trade and Industry (MTI) said EnterpriseSG’s new leadership structure will instead feature the roles of executive chairman and managing director.

Current chief executive Lee Chuan Teck will therefore be redesignated as the agency’s executive chairman effective Apr 1.

He will succeed Peter Ong, who is due to retire from his role as non-executive chairman on Mar 31, 2024.

The appointment for the agency’s new managing director will be announced at a later date.

As EnterpriseSG’s CEO, Lee led the agency in “reviewing its priorities and developing new strategies to uplift local enterprises, transform key industries and scale up promising local enterprises”, said MTI.

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Prior to joining EnterpriseSG on May 1, 2023, he held appointments at the Monetary Authority of Singapore and also served as deputy secretary for land and corporate at the Ministry of Transport.

Lee was also appointed second permanent secretary of the MTI in 2018, and redesignated as the ministry’s permanent secretary for development a year later.

Ong took on the role of EnterpriseSG’s non-executive chairman from Apr 1, 2018, following the merger between International Enterprise Singapore and Spring Singapore.

EnterpriseSG credited Ong with shaping the agency’s leadership and organisational identity. It also noted that he “actively contributed to the conceptualisation” of its flagship growth programme, Scale-Up.

Prior to joining EnterpriseSG, Ong spent over 30 years in the public sector as head of civil service, and served as permanent secretary of several ministries, including MTI and the Ministry of Finance. 

Lim Ming Yan, chairman of the Singapore Business Federation, said EnterpriseSG’s leadership structure change reflects the agency’s commitment to “provide a more hands-on strategic leadership approach, combining vision with direct involvement”.

“It will enhance EnterpriseSG’s capacity to engage with stakeholders, opening doors to valuable opportunities and partnerships that will prove beneficial for Singapore companies in the global landscape,” he added.

“This also signals the growing importance of the organisation’s work in contributing to the economy.”