The founded and Chairman of Pacific International Lines (PIL) Chang Yun Chung announced that he is stepping down and the current Managing Director SS Teo will take over from him.
In a statement he said, "I wish to inform you that as part of PIL’s ongoing renewal and succession plan, I will step down as Chairman with effect from 1 April 2018. The Board has selected SS Teo, current Managing Director, to lead the Company in the role of Executive Chairman & Managing Director.
"At the same time, I will also retire from the Board and relinquish all my board responsibilities. However I will stay involved with the Company as Chairman Emeritus and will continue to advise the Board in certain strategic areas. I have worked closely with SS for more than 30 years and I am confident that he can provide the executive leadership necessary to bring PIL forward."
Following the aforesaid changes, the composition of the Board as at 1 April 2018 will be as follows:
1) Teo Siong Seng (Executive Chairman & Managing Director)
2) Teo Chew Seng @ Peter Chang (Deputy Chairman)
3) Tan Chor Kee (Deputy Managing Director)
4) Teo Cho Keng (Senior Executive Director)
5) Tay Kian Phuan William (Senior Executive Director)
6) Teo Tiou Seng (Tony)(Executive Director)
7) Kuan Kim Kin (re-designated as Senior Director wef 1 Jan 2018)
8) Teo Teng Seng (Executive Director)
9) Teo Choo Wee (Executive Director)
10) Lim Jock Fong (Yvonne) ( Executive Director)
11) Teo Lay Seng (Lisa) (Executive Director)