Singtel Group’s Chairman Chumpol NaLamlieng to Step Down
Simon Israel to be appointed Chairman
Singapore, 9 May 2011 – Singapore Telecommunications Limited (Singtel) today announced that Mr Chumpol NaLamlieng will step down as Chairman and Director of the company, and will be succeeded by Mr Simon Israel, upon the conclusion of the forthcoming Annual General Meeting (AGM) scheduled to be held on 29 July 2011.
Mr NaLamlieng, a Thai national, was appointed a non-executive and independent Director in 2002 and has been Chairman of the Board since 2003. He was President of Siam Cement for 13 years before stepping down in 2005 and his career there spanned more than 30 years.
Mr Kai Nargolwala, Lead Independent Director, said: “The Group has indeed been fortunate to have benefited from Khun Chumpol’s vast experience and understanding of the business environment in Asia. His acumen and insights have been instrumental in guiding the Singtel Group through its journey of transformation and helping to reinforce its position as Asia’s leading communications group, particularly through periods of severe economic downturn as in the recent past.”
Mr Israel, a non-executive and non-independent Director of Singtel since 2003, has been appointed by the Board to take over as Chairman. He assumes the position after the AGM. He will retire as Executive Director, President and Board Member of Temasek Holdings, effective 1 July 2011. Before joining Temasek, he was Chairman of Danone Asia Pacific, and a member of the Executive Committee of Group Danone.
Mr NaLamlieng said: “I have enjoyed my time and it has been an enriching experience being part of the Group’s transformation over the many years. I am grateful to my colleagues on the Board for the collaboration and support they have given me as the Chairman.
“With Simon’s close involvement over the last seven years, he shares the vision of the Board and has played a significant role in shaping Singtel. With a proven track record in managing cross-border acquisitions and as an active international investor, Simon appreciates the challenges and opportunities of his new role. I am confident that with Simon as Chairman and under Sock Koong’s leadership, Singtel is in capable hands.”
Other changes to the Board
In addition, Mr Graham John Bradley AM* and Mr Nicky Tan will be stepping down as non-executive and independent Directors after the AGM. Mr Bradley has been a Director since 2004 and Mr Tan, since 2002.
“With their rich experience in management and consulting roles across various industries, Graham and Nicky consistently brought important and fresh perspectives to board discussions. On behalf of my fellow Directors, I would like to thank them for their immense contributions over the years and wish them all the best,” Mr NaLamlieng said.
Singtel has appointed Mr Low Check Kian as non-executive and independent Director. Mr Low is the Chairman of NewSmith Capital Partners and is responsible for all of its activities in Asia, which are primarily in asset management and private equity.
Ms Chua Sock Koong, Group Chief Executive Officer, said: “I have been privileged to have worked with Chumpol, Graham and Nicky and will miss their leadership and wise counsel. Together with the rest of the management team, we are grateful to have learnt from these gentlemen.”
During his tenure as Chairman, Mr NaLamlieng focused on strengthening Singtel’s market leadership in Singapore, driving profitable growth in Australia and innovating for the future.
He oversaw the restructuring of the Group in 2005 into three key business units and the Group CEO succession and transition in 2007.
Over the last three years, he has also led the Group to take advantage of new opportunities in the market as it transforms to become a significant multimedia and ICT solutions provider in Asia Pacific.
Under Mr NaLamlieng’s watch, Singtel was the first in Singapore to offer 3G services and later moved into ‘quadruple play’ by entering the Singapore pay TV market, offering customers more choice and laying the foundation for our next generation of communications and multimedia digital services.
In Australia, Optus’ strategy of driving mobile growth through innovative plans and smartphone offerings, complemented by significant investments into network capabilities and reach, has borne fruit with continuous growth in mobile service.
The Group also enlarged its regional footprint and through Bharti expanded into 16 countries in Africa. Today, the Group generates more than 70 per cent of its proportionate EBITDA from its overseas businesses.
In Euromoney’s 2010 poll, Asian fund managers voted Singtel the company with the ‘Most Convincing and Coherent Strategy in Singapore’.
As a keen advocate for corporate governance, Mr NaLamlieng raised the bar for management in a number of governance initiatives aimed to align management interests with shareholders’. Singtel has won many awards in recognition of its high standards of corporate governance and transparency. Most recently, it won the ‘Best Managed Board’ at the Singapore Corporate Awards for the second year running. For the third consecutive year, Singtel was voted winner of the ‘Singapore Corporate Governance Award’ at the SIAS Investors’ Choice Awards.