ComfortDelGro (CDG) C52 has appointed veteran banker Mark Christopher Greaves as its new chairman of the board on April 28. He will also chair the nominating and remuneration committee (NRC) and the investment committee, as well as become a member of the sustainability committee.
Outgoing and founding chairman Lim Jit Poh retired after the conclusion of CDG’s annual general meeting (AGM) on the same day. Lim will become CDG’s chairman emeritus upon his retirement.
Greaves’ appointment and Lim’s retirement were announced by the transport operator on March 30.
At the same time, CDG appointed Choi Shing Kwok to its newly-created position of deputy chairman. Choi, who joined CDG’s board in 2022, assumed the position on April 28 as well.
Speaking at the AGM this morning, Greaves thanked outgoing Lim for all that he had done for the group.
“As one of the longest-serving chairmen in corporate Singapore, you have become almost synonymous with the ComfortDelGro brand. Through the last two decades, you have led the board and management with great distinction in how it has formulated its strategy and direction. Your extensive network, sharp business acumen and deep experience have no doubt helped the Group to achieve all that it has to-date,” he says.
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“I believe the time is right for us, as directors and management, to renew our pledge to further strengthen the position of our group. To remain as a leading player in the land transport industry in the coming years and decades will demand innovation, dedication, best technology-backed customer service and above all an abundance of personal contact with our business partners, regulators and other stakeholders,” adds Greaves.
In his last address as chairman, Lim described his tenure as a “long and beautiful journey” which has come to an end.
“I am very grateful to the board for conferring on me the title of chairman emeritus in the recognition of my services. I shall now watch the group’s future development with interest and non-participation and non-involvement from the sidelines,” he said.
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“As our founding chairman, [Lim] played an instrumental role in laying ComfortDelGro’s strategic foundation, ensuring that we stayed focussed on our core business of land transport. As such, we have built up a large pool of talent expertise in this specialised area – one that is recognised around the world. This has, in turn, played a key role in how we have successfully participated, and won, international bus and rail tenders,” says Cheng Siak Kian, managing director and CEO of CDG.
“Mr Lim is a consummate professional who always has ComfortDelGro on his mind. At 83, he continues to keep himself appraised of all the latest developments in the business world and in the industry. He is the very epitome of lifelong learning and I have great respect for that,” he adds.
Cheng also welcomed Greaves, saying “Mark has a wealth of experience in the business world and strong connections in the UK. I have no doubt that the group will greatly benefit from his expertise and his guidance. I look forward to working with him and the board to bringing ComfortDelGro to even greater heights.”
As at 3.16pm, shares in CDG are trading 1 cent higher or 0.84% up at $1.20.
