Wee Cho Yaw is retiring from his position as chairman and director of Singapore Land Group U06 % after having served for slightly over three decades.
Wee was appointed to the group’s board on June 26, 1992.
Wee, aged 94, will step down from the role effectively on March 31.
Upon his retirement, Wee will be appointed as chairman emeritus and honorary adviser of the group. Wee is also the chairman emeritus and honorary adviser of United Overseas Bank (UOB).
Wee is a substantial shareholder of the group. His son, Wee Ee Lim, a non-executive and non-independent director of the group, will become its next chairman.
The younger Wee was made an executive and non-independent director of the group in May 1999. He is also the president and CEO of Haw Par Corporation and has held that role since October 2003.
See also: Singapore Land Group reports 60% lower earnings of $95.3 mil for the 2HFY2022
Shares in Singapore Land Group closed 2 cents higher or 0.86% up at $2.34 on Feb 24.