SBS Transit has appointed Bob Tan Beng Hai as chairman of the board, replacing Lim Jit Poh, who steps down after 18 years at the helm. Lim will stay on as a senior advisor.

Tan will be appointed as Chairman of the board tenders committee and will also sit as a member of the nominating and remuneration Committee.

Tan currently serves as Chairman of the manager of Ascott Residence Trust. He also sits on the boards of Sembcorp Marine and Singapore Post.

He previously served on the SMRT board from 2006 to 2017. 

He is also Chairman of Ascott Business Trust Management and Sentosa Development Corporation and Jurong Engineering Limited.

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SEE:SBS Transit Chairman Lim Jit Poh to retire after 18 years, will remain as senior advisor

In addition to his board directorships, he is also a member of the Monetary Authority of Singapore’s Corporate Governance Advisory Committee and Securities Industry Council.

He is a fellow of the Institute of Chartered Accountants in England and Wales and the Singapore Institute of Directors.

On his new role, Tan says he looks forward to working with the board and management to address the ongoing challenges as Covid-19 brings about structural changes to public transport sector.

Outgoing Chairman Lim says, “I am happy to be handing over the reins to Mr Bob Tan who is very seasoned and, in my opinion, well-qualified to lead the Group into the next phase of growth.”

Shares in SBS Transit closed 1 cent or 0.31% lower at $3.18.