Tony Tan to take over as SPH chairman in Dec - Oct 12, 2005 (BT)

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The Straits Times / The Business Times News On SPH

Tony Tan to take over as SPH chairman in Dec

Lim Chin Beng to step down after 4 years with group.

By Wong Wei Kong
Oct 12, 2005
The Business Times

Former Deputy Prime Minister Tony Tan, who stepped down from Cabinet in September, will be the new chairman of Singapore Press Holdings.

Dr Tan, 65, will take over as non-executive chairman on Dec 2, when Lim Chin Beng steps down after four years with the media group. Dr Tan joined the SPH board on Sept 5.

Dr Tan: Apart from his stature, he brings with him a wealth of experience and contacts

SPH said yesterday that Mr Lim, who is 73 this year, has indicated his decision not to seek re-election as a director and chairman at the company's annual general meeting (AGM) on Dec 2. Dr Tan was unanimously nominated by the board to be the new chairman.

Welcoming Dr Tan as chairman-designate, the SPH board said that with his vast wealth of experience, stature and contacts he will be a big boost to the company in a fast-changing and evolving media industry.

Dr Tan is also deputy chairman and executive director of the Government of Singapore Investment Corporation and chairman of the National Research Foundation.

A Member of Parliament for Sembawang since 1979, he stepped down from Cabinet in 1991 to join OCBC as chairman and CEO. He rejoined Cabinet in 1995. While in Cabinet he headed various ministries. At the time he joined the SPH board, Dr Tan said he would contribute to the company's general management, make it more effective and add value for shareholders.

Asked what Dr Tan is expected to focus on at SPH, outgoing chairman Mr Lim said: 'He will have different strengths, he will have different emphasis. You can't specify the duties of the chairman.'

Mr Lim, who was appointed an SPH director in October 2001 and non-executive chairman in December 2002, said it was time for him to retire after four fulfilling and satisfying years on the board.

'I am leaving the group in very capable hands. SPH has maintained its profitability despite the difficult times post-911 in 2002 and post-Sars in 2003,' he said.

SPH chief executive officer Alan Chan said: 'Mr Lim has been very supportive of management and provided invaluable advice and direction during the crucial negotiations which resulted in the merger of SPH MediaWorks and Streats with MediaCorp TV and Today.'