NTUC Income chief executive officer Tan Suee Chieh will step down from his role and assume the new position of group chief executive of NTUC Enterprise from Oct 1.
Mr Tan will be the first group chief executive of NTUC Enterprise, the holding entity of the Labour Movement social enterprises including NTUC Income, NTUC Eldercare and NTUC Unity Healthcare. He received the Outstanding CEO of the Year 2012 at the Singapore Business Awards held last month.
NTUC Income said it has started to look for Mr Tan's successor, both internally and externally.
Commenting on his new role, he said: "The Singapore economy may still be strong and sound, and we are still a first world country. But the issues of economic and social dislocation, financial insecurity, concerns over food, housing and transport prices, health care costs and the funding of the elderly have once again come to the foreground. The NTUC social enterprises will need to respond to the needs of our time."
He added: "My belief that businesses have a wider obligation than just 'maximising profits for shareholders' as a philosophy took deeper root while I was in NTUC Income. So I am excited about the challenges that lay ahead of us at NTUC Enterprise."
NTUC Enterprise chairman Lim Boon Heng said: "NTUC Income successfully combined the drive for its social purpose with a quest for professional excellence under Suee Chieh's watch. We are confident that he is the leader to help expand that success across the NTUC social enterprises."