Singapore's biggest Telco SingTel will have a new chairman and director from 29 July 2011.
Simon Israel, a non-executive and non-independent Director of SingTel since 2003, will take up the SingTel chairmanship, after retiring from his current role as executive director, president and board member of Temasek Holdings.
Temasek is a major investment company and sovereign wealth fund owned by the government of Singapore.
In an official announcement this week, SingTel said Chumpol NaLamlieng will step down as chairman and director of the company, at the conclusion of SingTel's July annual general meeting.
The statement said that, during his tenure as chairman, NaLamlieng focused on strengthening SingTel's market leadership in Singapore, driving profitable growth in Australia and innovating for the future.
"He oversaw the restructuring of the Group in 2005 into three key business units and the Group CEO succession and transition in 2007," the statement said. "Over the last three years, he has also led the Group to take advantage of new opportunities in the market as it transforms to become a significant multimedia and ICT solutions provider in Asia Pacific."
Under NaLamlieng's watch, the statement said that SingTel was the first in Singapore to offer 3G services and later moved into 'quadruple play' by entering the Singapore pay TV market, offering customers more choice and laying the foundation for our next generation of communications and multimedia digital services.
In Australia, SingTel's wholly-owned subsidiary Optus' strategy of driving mobile growth through innovative plans and smartphone offerings, complemented by significant investments into network capabilities and reach, has borne fruit with continuous growth in mobile service.
The Group also enlarged its regional footprint and through Bharti expanded into 16 countries in Africa. Today, the Group generates more than 70 per cent of its proportionate EBITDA from its overseas businesses.
Guidance through turmoil
SingTel's lead independent director Kai Nargolwala, said: "The Group has indeed been fortunate to have benefited from Khun Chumpol's vast experience and understanding of the business environment in Asia.
"His acumen and insights have been instrumental in guiding the SingTel Group through its journey of transformation and helping to reinforce its position as Asia's leading communications group, particularly through periods of severe economic downturn as in the recent past."
SingTel's Graham John Bradley and Nicky Tan will also be stepping down as non-executive and independent directors after the telco's July AGM.
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