Yeo Hiap Seng Limited announced that Mr. Koh Boon Hwee will retire from the Board on 31 December 2019 and that Mr. Daryl Ng will succeed as Chairman of the Board from 1 January 2020. Mr. Koh Boon Hwee has been a director of YHS since 1 January 2009 and he became Chairman on 26 April 2010. Over the past 11 years, he steered YHS through various economic cycles in its major markets, always steadfast in his belief to foster further development to this heritage brand and to the Group in a sustainable manner. His entrepreneurial calibre and experience as well as sharp business acumen in developing people, businesses and customers across a diverse spectrum of industries has been a constant resource that the Group has benefited from. Mr. Koh Boon Hwee, Chairman of the Board, commented "It has been a dynamic, fast-paced and rewarding journey with YHS over the past decade. The FMCG industry has been undergoing some major changes and the younger generation consumers have distinctively different preferences. It is opportune to pass on the baton to Daryl to continue the work that has been done to date and also to take the business to a new level. Mr. Daryl Ng has been a director of YHS since 13 June 2018. Mr. Daryl Ng possesses strong leadership and business acumen. He has been serving on the Board of Sino Land Company Limited (HKSE: 083) since 2005, and was appointed Deputy Chairman of Sino Land Company Limited in November 2017. Mr. Daryl Ng provides strategic direction for Sino Land Company Limited and is instrumental to notable initiatives that have been well received by the market. He will provide a new perspective to the Group's business amid trends shaping the food and beverages industry and customers' evolving needs.