FOOD and beverage company Yeo Hiap Seng’s : Y03 0% group chief executive officer (CEO) Samuel Koh has resigned and will hand over the helm to current chief operating officer Ong Yuh Hwang from Jan 1, 2023.

Koh, who joined Yeo’s in January 2020 and became group CEO in March, will take on the role of consultant from Jan 1 to Jun 3 next year – or at an earlier date mutually agreed upon – to ensure an orderly transition. Koh resigned to pursue other interests, the company said in a statement on Friday (Dec 9).

Ong served as CEO of Suntory Garuda Beverage Indonesia for over two years before joining Yeo’s as chief operating officer in September 2022. At Suntory Garuda, he was responsible for end-to-end business across all functions.

He worked at Procter & Gamble from 1996 to 2020, and took on various senior appointments. These include vice-president for sales and operaitons at Procter & Gamble Philippines and CEO for Malaysia, Singapore, Cambodia, Brunei and Pacific Island.  

Daphne Heng Hee Choo, the incumbent deputy chief financial officer (CFO), has been promoted, assuming the role of CFO on Dec 9.  

Heng joined Yeo’s as group director for internal audit and risk management in July 2020, and was promoted to deputy CFO in June this year.

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Shares of Yeo’s ended Friday up 0.8 per cent, or S$0.005, to S$0.64.