Ho Bee Land’s Chua to be redesignated as executive chairman, Nicholas Chua to take his place as CEO

His son Nicholas Chua, the current deputy CEO, will be appointed as the company’s new CEO and executive director.

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The company also announced the retirement of Desmond Woon as executive director. He will be appointed as senior advisor of Ho Bee Land.

Lead independent board director Bobby Chin says Nicholas has performed well in his capacity as deputy CEO. “The board has reviewed the recommendation of the nominating committee and believes that he is ready to assume the CEO position and take on additional responsibilities as part of the group's leadership succession planning,” says Chin.

Nicholas joined the group in 2002 and was appointed deputy CEO in 2018.

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As at 12.53pm, shares in Ho Bee Land are up 3 cents or 1.06% higher at $2.86.

Photo of Nicholas Chua: Ho Bee Land