Nicholas Chua to Become CEO as Leadership Succession Unfolds
Ho Bee Land has announced Nicholas Chua as its next Chief Executive Officer (CEO) and Executive Director, effective January next year. This leadership transition will see his father, Chua Thian Poh, currently serving as Chairman and CEO, taking on the role of Executive Chairman, the company revealed in a press release on Tuesday.
Nicholas Chua, presently the group’s Deputy CEO, will assume responsibility for implementing the company’s strategies and policies established by the board. Additionally, he will oversee the development and management of Ho Bee Land’s investment portfolio.
A Proven Track Record
Bobby Chin, Ho Bee Land’s Lead Independent Director, expressed confidence in Nicholas Chua’s ability to lead, highlighting his achievements as Deputy CEO. Since joining the company in 2002, Nicholas has been instrumental in expanding the group’s presence in Australia and China and strengthening its investment portfolio across Europe and the UK.
Promoted to Deputy CEO in 2018, Nicholas has demonstrated readiness to take on the CEO role. Chin noted that the board, following the nominating committee’s recommendation, supports this move as part of the company’s leadership succession planning.
New Responsibilities for Executive Chairman
As Executive Chairman, Chua Thian Poh will focus on charting the group’s long-term growth strategies. He will also collaborate with the board and management to bolster Ho Bee Land’s environmental, social, and governance (ESG) framework, ensuring the company maintains its commitment to socially responsible business practices.
Retirement and Acknowledgements
The company also announced the retirement of Executive Director Desmond Woon, who will transition to the role of Senior Advisor. A part of Ho Bee Land since 1987, Woon has been pivotal in steering the group’s corporate governance, financial operations, legal compliance, and investor relations.
Chua Thian Poh expressed gratitude for Woon’s 34 years of dedication, acknowledging his significant contributions to the company’s growth and stability.
Shares of Ho Bee Land closed at S$2.83 on Tuesday, reflecting market steadiness amid these organisational changes.
