Cycle & Carriage MD to leave after two years in role

The wheels of change are turning again at one of Singapore's oldest motor groups.

Mr Eric Chan, managing director of Jardine Cycle & Carriage's Direct Motor Interests and Cycle & Carriage Singapore, will leave next month after 27 years at the group.

The news took industry players as well as Mr Chan's colleagues and associates by surprise.

Mr Chan, 51, had been in his dual-hat role for only two years, after his predecessor, Mr Haslam Preeston, stepped down in 2019.

Jardine Cycle & Carriage said Mr Chan has had "a long and distinguished career".

"Over the years, Eric Chan has made significant contributions to the group with his professionalism and forged successful relationships," spokesman Joey Ho said. "He has built a competent management team that will deliver business continuity. We are appreciative of his contributions to the group."

Mr Chan, who is also chairman of Cycle & Carriage Bintang in Malaysia, could not be reached for comment. He will be succeeded by Mr Wilfrid Foo, who joined the JC&C group in 2017 as chief executive of Cycle & Carriage Bintang.

Besides the Singapore franchises, which include Mercedes-Benz, Kia, Citroen and Mitsubishi, Mr Chan overseas the group's motor interests in Malaysia, Myanmar and Indonesia.

His imminent departure comes less than three months after the group dissolved its newly formed Jardine International Motor (JIM) division - a move seen by some as JC&C's dwindling interest in the increasingly challenging motor business.

However, Ms Ho said Mr Chan's exit is not related to the disbanding of JIM, which she said was a move by Jardine to consolidate its auto network in China.