Mr Koh Boon Hwee will be relinquishing his position as non-executive Chairman and Director of Singapore Airlines at the end of the year. Mr Stephen Lee Ching Yen will be proposed to the Board to take over from Mr Koh as non-executive Chairman of SIA on 1 January 2006.
Mr Koh joined the SIA Board in March 2001 and became Chairman in July 2001. During his 4 year stint, he led the company through a number of unprecedented crises affecting the aviation industry, namely, the September 11 2001 terrorist attack of the World Trade Centre in New York, the Bali bombing of October 12 2002, the SARS epidemic in 2003, the entry of low cost and budget carriers in the region and most recently, the very high fuel prices.
Mr Koh also steered the smooth change of SIA CEO from Dr Cheong Choong Kong to Mr Chew Choon Seng in June 2003.
Under his helm, SIA maintained its loss free record despite very adverse operating conditions and in the last financial year of 2004-2005, SIA achieved record profit close to $1.4 billion.
SIA CEO Chew Choon Seng, expressing his appreciation on behalf of all SIA staff said, “Mr Koh, in his 4 years as Chairman, has seen SIA through a refreshing phase of changes and development. The company has benefited a great deal from his vast business and leadership experience in different industries. He has helped us with new insights and fresh perspectives which were valuable in enhancing our business competitiveness and raising the standard of our customer service.”
Mr Stephen Lee Ching Yen was appointed Director of SIA in April 2004. He is the Chairman of the Board Labour Relations Committee and a member of the Audit and Risk Committee.
Mr Lee is also Managing Director of both Shanghai Commercial and Savings Bank Ltd and Great Malaysia Textile Manufacturing Company Pte Ltd. Mr Lee serves as Chairman of the Singapore Business Federation and a Director of Fraser & Neave Ltd. He recently retired as Chairman of PSA International Limited. Mr Lee was Chairman of International Enterprise Singapore 1995-2002.