[SINGAPORE] Singapore Exchange (SGX) group CEO Loh Boon Chye is preparing to step down after over a decade at the helm, with succession planning under way ahead of his current contract’s expiry in mid-July 2027.
Speaking at SGX’s 27th annual general meeting on Friday (Oct 23), Loh, 62, said that he recently informed the exchange’s chairman, Koh Boon Hwee, that they should “begin planning for an eventual transition in the CEO role”.
“My current contract runs until mid-July 2027, so there is ample time for us to plan thoughtfully and work through the arrangements together,” he noted.
Loh, a veteran banker, was appointed SGX CEO in July 2015 after a 3.5 month search.
On Friday, he said that he will work closely with Koh and the board to determine the “appropriate timing and arrangements” for a smooth handover, ensuring continuity in SGX’s strategy, business operations and stakeholder relationships.
The planned transition comes at a time of renewed momentum in the Singapore stock market and growth opportunities in SGX’s derivatives and foreign exchange businesses.
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Loh said that SGX is in “a stronger position today”, having developed a “more diversified business” with several growth engines.
Even as he signalled his eventual departure, Loh stressed that his ambitions for SGX remain unchanged. “I want us to accelerate our growth, expand our global reach and take SGX to a new level. That is what I intend to drive forward,” he said.
“What matters is that we get this right – in the best interests of the company, our people and our shareholders – and keeping SGX’s momentum and ambitions firmly on track.”