NTUC Enterprise Announces Leadership Change

Singapore, 9 September 2019 (Monday) – NTUC Enterprise Co-operative Limited (NTUC Enterprise) today announced that effective 1 October 2019, Mr Kee Teck Koon will be stepping down as Executive Director (ED) of NTUC Enterprise. Mr Seah Kian Peng, CEO of NTUC FairPrice Co-operative Ltd (FairPrice), will assume the role of Group CEO of NTUC Enterprise. This will be a concurrent appointment to his current role as CEO of FairPrice.

Mr Kee was intrinsic to the formation of NTUC Enterprise and has been its director since 2012. He assumed the role of NTUC Enterprise ED in January 2017 to ensure continuity in leadership to the NTUC group of social enterprises (SE) after the departure of the previous NTUC Enterprise Group CEO.

During his term as NTUC Enterprise ED, Mr Kee led the acquisition of Kopitiam Investment Pte Ltd (Kopitiam) to boost NTUC Enterprise’s food services offerings, to further fortify its daily essentials cluster comprising FairPrice, NTUC Foodfare and Kopitiam. This would enable NTUC Enterprise to more effectively address the cost of living concerns around daily essentials. He led NTUC Enterprise’s investment in ST Logistics Pte Ltd, and drove the formation of MoneyOwl Pte Ltd in 2018 to raise financial planning awareness and provide advice to the under-served segments in the community.

Mr Kee said, “I am honoured to be able to play a part in the development of NTUC Enterprise and driving its transformation to ensure NTUC Social Enterprises remain relevant to the evolving needs of our workers and the community. I am pleased to hand over the mantle to the capable hands of Kian Peng, a dynamic and visionary leader, who will lead NTUC Enterprise into the next chapter of its transformation journey.”

Mr Kee will continue to serve in the NTUC group of SEs as director on the boards of NTUC Enterprise, NTUC FairPrice and as Deputy Chairman, NTUC Income.

Mr Seah, who has worked in both the public and private sector, first joined the National Trades Union Congress – Administration & Research Unit in June 1996 and was seconded to NTUC FairPrice in February 2001 as Chief Operating Officer. Mr Seah succeeded as CEO (Singapore) in 2010 and CEO, NTUC FairPrice in 2016. (Please refer to the Annex for more info).

Mr Seah said, “NTUC Enterprise’s social mission of doing good and the social impact we create has always resonated with me. To uphold this, we have to ensure we continue to stay relevant and lead in the various industries that we operate in. It is a privilege to be asked to serve as NTUC Enterprise’s Group CEO concurrent with my portfolio at NTUC FairPrice. Building on the strong foundation laid by Mr Kee, together with the support of NTUC, union leaders and members, as well as board members and colleagues from across all our NTUC Social Enterprises, we are well-positioned to enable and empower all in Singapore to live better and more meaningful lives.”