May 9 (Bloomberg) -- Singapore Telecommunications Ltd. Chairman Chumpol NaLamlieng will step down to be succeeded by board member, Simon Israel, after the company’s annual general meeting on July 29.
Israel, a non-executive director of SingTel since 2003, is also executive director and president of Temasek Holdings Pte, positions he will relinquish effective July 1. Prior to joining Singapore’s state-owned investment company, Israel was chairman of Danone Asia Pacific Ltd., according to SingTel’s statement to the stock exchange today.
“With a proven track record in managing cross-border acquisitions and as an active international investor, Simon appreciates the challenges and opportunities of his new role,” NaLamlieng said in the statement. During his own tenure as chairman, NaLamlieng focused on strengthening SingTel’s market share in the city-state and driving profitable growth in Australia, the statement said.
Israel, who is from New Zealand, will take on the chairmanship of Southeast Asia’s largest telecommunications company, with 383 million mobile-phone customers across 25 countries spanning Australia to India, according to its website. The group, whose largest shareholder is Temasek, reported a third-quarter net profit in February that beat analysts’ estimates.
Israel joined Paris-based Danone, the world’s largest yogurt maker, in 1996. Prior to Danone, he had a 22-year career at Sara Lee Corp. in Asia. He’s also on the boards of companies including CapitaLand Ltd., Southeast Asia’s biggest developer, and Asia Pacific Breweries Ltd.
In other SingTel board changes, Graham Bradley and Nicky Tan will step down as non-executive directors after the annual meeting, the statement said. The company appointed Low Check Kian, chairman of private equity firm NewSmith Capital Partners LLP, has been appointed as a non-executive director.
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