UOB's chairman Wee Cho Yaw to step down in 2013
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Mr Wee Cho Yaw, chairman of United Overseas Bank. Mr Wee will step down as chairman of Singapore's United Overseas Bank (UOB) in April 2013 after nearly four decades at the helm, the bank's chief executive officer Wee Ee Cheong said on Tuesday. -- PHOTO: ERNST & YOUNG
United Overseas Bank (UOB) chairman Wee Cho Yaw will step down in April 2013 after almost 40 years in the post, the firm announced on Tuesday.
Mr Wee, 83, who has helmed the UOB board since 1974, will be replaced by Mr Hsieh Fu Hua, former chief executive of the Singapore Exchange.
UOB chief executive Wee Ee Cheong, Mr Wee's son, told a results briefing that it was a board, rather than a management, change and that there will be no significant shift in the bank's strategy.
He also added that the elder Mr Wee, who will remain on the UOB board, is "perfectly healthy".
