NTUC Fairprice Co-operative Ltd (FairPrice) has a new Chairman, Mr Bobby Chin, who was previously sitting on the Co-operative’s Board.
In a statement, NTUC FairPrice said that at its 32nd Annual General Meeting on 26 June 2014, Mr Ng Ser Miang did not seek re-election and stepped down as Chairman of the Board after nine years at the helm.
Mr Chin was consequently elected Chairman of the Board.
During his term as Chairman, Mr Ng had led the Co-operative to grow from strength to strength while continuously upholding its social mission to moderate the cost of living.
Under his leadership, NTUC FairPrice's group revenue doubled from $1.4 billion in the 2005/2006 financial year to $2.8 billion in the 2012/2013 financial year.
The number of NTUC FairPrice stores grew from 163 to a network of 281 stores island-wide, comprising 120 supermarkets and hypermarkets and 161 convenience stores serving over 500,000 customers daily.
Mr Ng also launched a foundation to advance NTUC FairPrice's philanthropic efforts in a more systematic, focussed and sustainable manner.
The FairPrice Foundation was set up in 2008 with a mission to provide a better life for the community, with Mr Ng as its first Chairman.
Mr Chin joined the Board of NTUC FairPrice in February 2013. He is no stranger to the Labour Movement as he sits on the Board of the Singapore Labour Foundation and is the Deputy Chairman of NTUC Enterprise.
Source: NTUC This Week
