Tony Tan will be new SPH chairman - Oct 12, 2005 (ST)

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The Straits Times / The Business Times News On SPH

Tony Tan will be new SPH chairman

By Bryan Lee
Oct 12, 2005
The Straits Times

FORMER deputy prime minister Tony Tan will take over as chairman of Singapore Press Holdings on Dec 2.

Dr Tan, 65, who was appointed an SPH director last month after retiring from Cabinet, will take over from Mr Lim Chin Beng, 73, who will step down from the board after four years with the media group.

The appointment was announced yesterday at a press conference for SPH's financial results, at which it reported a better-than-expected full year profit of $494.7 million.

Dr Tan was unanimously nominated by the SPH board of directors for the position of non-executive chairman.

A Member of Parliament for Sembawang GRC, he is also deputy chairman and executive director of the Government of Singapore Investment Corporation and chairman of the National Research Foundation.

The SPH board yesterday welcomed Dr Tan as its chairman-designate, saying that his wealth of experience, stature and contacts would be a big boost to the company.

It also thanked Mr Lim for his contributions over the past four years.

Mr Lim joined SPH as a director in October 2001 and was appointed non-executive chairman in December 2002, taking over from Mr Lim Kim San, who is now senior adviser to the group.

Mr Lim Chin Beng said it was time he retired after four fulfilling and satisfying years on the SPH board.

'I am leaving the group in very capable hands.

'SPH has maintained its profitability, despite the difficult times post-9/11 and post-Sars,' he said.

SPH chief executive Alan Chan said: 'Mr Lim (Chin Beng) 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.

'He also encouraged management to expand its portfolio into overseas magazine ventures, as well as the outdoor advertising platform.'