Yeo Hiap Seng, the listed F&B arm of Far East Organization, has announced the appointment of Koh Boon Hwee, 59, as non-executive chairman, and Tjong Yik Min, 57, as group chief executive officer.

The appointments will take effect upon the conclusion of Yeo Hiap Seng’s 54th AGM on April 26.

Koh will step down as DBS Group chairman after the bank’s AGM and EGM on April 30. He has been a director of Yeo Hiap Seng since Jan 1. Tjong has been a director of Yeo Hiap Seng and also its president and chief operating officer since Jul 22, 2002.

Philip Ng, 51, the current chairman and chief executive officer, will be retiring. He will not seek a re-election as a director and will step down from the board and relinquish his position as chief executive officer at the conclusion of the AGM.