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SingTel chairman Chumpol to be replaced by Israel

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CIOL Bureau
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SINGAPORE: Singapore Telecommunications (SingTel) , Southeast Asia's biggest telco, said on Monday its chairman Chumpol NaLamlieng will step down and be succeeded by Simon Israel, a senior executive from state investor Temasek .  

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Israel is currently an executive director, president and board member of Temasek Holdings, which controls more than half of SingTel, but will leave his post in the Singapore state investor effective July 1, 2011, the company said in a statement.

 Temasek owns 54 per cent of SingTel and Israel has been on its board since 2003.

Last month Temasek's senior managing director Ng Yat Chong was named chief executive of the world's seventh-biggest container shipping firm Neptune Orient Lines .

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Israel's appointment is subject to approval by shareholders, who will meet on July 29 at the company's annual general meeting. He is currently serving as non-executive and non-independent director of SingTel.

SingTel also announced the departure two other non-executive directors, John Bradley and Nicky Tan after the annual general meeting.

SingTel is scheduled to announce its quarterly results on Thursday. Analysts are expecting the firm's fourth-quarter net profit to inch 2 per cent lower from a year ago, partly due to weaker contributions from its unit in India, Bharti Airtel.

 

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