Lim Jit Poh becomes emeritus chairman of Vicom after 37 years as its chairman

Mr Lim Jit Poh has chaired Vicom since 1985 and was one of its founding directors when it was formed in 1981. PHOTO: COMFORTDELGRO

SINGAPORE - Mr Lim Jit Poh has stepped down as chairman of Vicom and has been conferred an honorary title of emeritus chairman at the vehicle inspection company.

He had chaired Vicom - 67 per cent owned by transport giant ComfortDelGro - since 1985, and was one of its founding directors when it was formed in 1981.

At Vicom's annual general meeting (AGM) on Wednesday (April 27), it was announced that Mr Lim, 82, will remain a senior adviser of the company "to provide continuity to the group as it navigates a changing environment in a tightly regulated industry".

Vicom director Tan Kim Siew has succeeded Mr Lim as chairman.

Dr Tan is a former permanent secretary for defence development and was among three high-powered civil servants roped in four years ago to bolster the boards of ComfortDelGro and its subsidiaries.

He is the only one of the three who is still on the job.

Mr Chiang Chie Foo, former permanent secretary at the Prime Minister's Office and the Ministry of Defence before his retirement from the civil service in 2013, will leave the ComfortDelGro board on Friday.

The transport giant announced this to the Singapore Exchange on Tuesday.

Mr Benny Lim, former permanent secretary at the Prime Minister's Office and the Ministry of Home Affairs, retired from the SBS Transit board last April after three years at the post.

That same month, former SMRT director Bob Tan replaced Mr Lim Jit Poh as chairman of SBS Transit.

At the Vicom AGM, Mr Lim Jit Poh said: "I am supposed to retire next year under the practice of rotational director retirement rules. However, I have decided to step down a year earlier. This is a logical follow-up to my retirement at SBS Transit last year.

"Accordingly, I shall not put myself up for re-election at the 2023 ComfortDelGro AGM next year. This has been my plan."

He is also due to step down as chairman of ComfortDelGro next year.

His new title at Vicom is uncommon, although not unheard of. Former minister S. Dhanabalan became chairman emeritus of Temasek Trust earlier this month after Ms Ho Ching succeeded him as chairman.

Veteran banker Wee Cho Yaw was appointed chairman emeritus of UOB after stepping down as its chairman in 2013.

And in 2018, American businessman Howard Schultz became chairman emeritus of Starbucks after stepping down as executive chairman of the coffee house chain.

Commenting on Mr Lim's new title, Dr David Leong, managing director of human resource advisory and search firm PeopleWorldwide Consulting, said: "Typically, emeritus roles are accorded in universities for retired professors. The title of emeritus chairman is not common in our local context.

"But Mr Lim Jit Poh had been Vicom's non-executive chairman since 1985, and he has seen it grow dramatically over the years."

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