EnterpriseSG CEO to be redesignated as executive chairman from Apr 1

SINGAPORE: Enterprise Singapore (EnterpriseSG) CEO Lee Chuan Teck will relinquish his role and be appointed as executive chairman on Apr 1, the Ministry of Trade and Industry (MTI) said on Wednesday (Jan 24).

The move comes as EnterpriseSG will change its leadership model - from the current structure of having a non-executive chairman and a CEO - to one that will have an executive chairman and a managing director.

“The new structure will enhance EnterpriseSG’s strategic engagement with business counterparts, advancing Singapore’s economic interests and the interests of Singapore companies,” said MTI. 

The appointment for EnterpriseSG’s new managing director will be announced at a later date.

Mr Lee will succeed Mr Peter Ong Boon Kwee, who will retire from his role as non-executive chairman on Mar 31.

Appointed as the non-executive chairman of EnterpriseSG from April 2018, following the merger of International Enterprise Singapore and SPRING Singapore, Mr Ong championed internationalisation as a strategy. 

He also fronted EnterpriseSG’s business discussions to advance Singapore’s bilateral economic relations with overseas counterparts and was involved in helping small- and medium-size enterprises (SMEs) build a digital foundation.

“On behalf of MTI, I extend our deepest gratitude to Peter for his exceptional contributions over the years,” said Minister for Trade and Industry Gan Kim Yong. “His distinguished leadership and strategic foresight have been instrumental in guiding both EnterpriseSG and the broader public service towards success.”

“I am confident that Chuan Teck will build on Peter's commitment to excellence and innovation, and steer EnterpriseSG to new heights.”

Since his appointment as EnterpriseSG CEO on May 1, 2023, Mr Lee has helped developed new strategies to scale up local enterprises and been involved in key initiatives to drive productivity, internationalisation and digitalisation, among others. 

Singapore Business Federation chairman Lim Ming Yan said the change in leadership structure at EnterpriseSG reflects its commitment to provide a “more hands-on strategic leadership approach”.

“It will enhance EnterpriseSG’s capacity to engage with stakeholders, opening doors to valuable opportunities and partnerships that will prove beneficial for Singapore companies in the global landscape,” said Mr Lim.

“This also signals the growing importance of the organisation's work in contributing to the economy.”