SINGAPORE - Supermarket giant NTUC FairPrice's chief executive, Mr Seah Kian Peng, will be leading the NTUC group of cooperatives from next month.

The 57-year-old will be appointed group chief executive officer of NTUC Enterprise on Oct 1, replacing the cooperative's current executive director Kee Teck Koon.

The new appointment is in addition to Mr Seah's current appointment as NTUC FairPrice CEO, NTUC Enterprise said in a statement on Monday (Sept 9).

NTUC Enterprise, the social enterprise arm of labour movement National Trades Union Congress (NTUC), is the holding cooperative of NTUC cooperatives such as insurer Income, supermarket chain FairPrice and childcare provider NTUC First Campus.

In the statement on Monday, Mr Seah pledged to keep NTUC Enterprise relevant as a leader in the various industries it operates in. He said: "It is a privilege to be asked to serve... Building on the strong foundation laid by Mr Kee... we are well-positioned to enable and empower all in Singapore to live better and more meaningful lives."

Mr Kee, 63, was appointed NTUC Enterprise executive director in January 2017 after having been NTUC Enterprise's director since 2012.

During his term as executive director, he led the acquisition of home-grown brand Kopitiam, which managed more than 1,000 food stalls and employed more than 1,000 staff, in 2018 for an undisclosed sum.

Describing Mr Seah as a "dynamic and visionary leader", Mr Kee said he was "pleased to hand over the mantle to (Mr Seah's) capable hands... who will lead NTUC Enterprise into the next chapter of its transformation journey".

Mr Kee will continue to serve in the NTUC group as director on the boards of NTUC Enterprise, NTUC FairPrice and as deputy chairman of NTUC Income.

Mr Seah, a PAP MP for Marine Parade GRC since 2006, is also former Deputy Speaker of Parliament.

Correction note: An earlier version of this story referred to Mr Seah as a Deputy Speaker of Parliament instead of former Deputy Speaker. We are sorry for the error.