SMRT chief executive officer Saw Phaik Hwa stepped down
from her post on Friday afternoon following public outrage over train
disruptions that affected thousands of commuters in December.
In a statement, SMRT said that
its board of directors has accepted Saw's resignation, and that one of its
members, Tan Ek Kia, will assume interim responsibility for SMRT's management
as the board searches for a new CEO.
A filing with the Singapore
Exchange by SMRT showed that Saw's resignation is effective Friday and the
reason cited is "to pursue personal interests".
The 57-year-old, however, will
remain with the transport group to assist in investigations into the
disruptions to train operations in December, as well as with its transition to
new leadership, according to a statement released by SMRT.
"The Board recognises the
importance of this transition period, and this is why Tan Ek Kia will provide
executive leadership while a search is underway for Phaik Hwa's
successor," said SMRT chairman Koh Yong Guan.
Tan, who was named interim CEO,
said he would work quickly to ensure that SMRT's leadership team has the
support it needs to ensure the delivery of reliable public transport services
for commuters.
"The staff of SMRT are
aware of public expectations that we deliver on our commitment to learn lessons
from December's incidents," said Tan, adding that he plans to place
particular emphasis on rail as "the cornerstone of our public transport
system".
Tan has held senior posts at
the Shell Group of companies and was involved with the group's oil, gas and
chemical businesses. He was chairman of Shell North East Asia from 1992 to 2003
and senior vice president of Shell Chemicals Asia Pacific and the Middle East
from 2003 to 2006.
Commenting on her resignation,
Saw acknowledged the time was ripe for leadership renewal.
"I have had the privilege
of leading a group of very committed and loyal staff over the last nine years.
I feel it is now time for SMRT to bring in new leadership and take the
organisation to the next level," she said, adding that her announcement
resulted from a discussion she started with Koh in early December last year.
"I also feel it is
important for me to stay on and support the relevant inquiries, and the
transition to the new leadership," she added, saying that she will assist
Tan with SMRT's transition to its new CEO.
Saw's resignation comes after
her previous decision to stay on as CEO despite calls for her resignation,
saying she took responsibility for the incidents that happened in December and
pledged to set things right.
Saw held her post of president
and CEO of the company since 3 December 2002, according to the filing. She
holds, as of Friday, in excess of 1 million ordinary shares in SMRT Corporation
Limited, which amount to S$1.9 million based on its closing share price on
Friday. She also holds some 14 directorships with its subsidiary companies.
Jeanette Tan | Yahoo! Newsroom
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