Changes to the board of the EDB

CHANGES TO THE BOARD OF THE EDB

The Minister for Trade and Industry (MTI) has re-appointed Mr Teo Ming Kian as Chairman of the Economic Development Board (EDB), and Mr. Lim Siong Guan, Permanent Secretary (Finance), as Deputy Chairman, with effect from 1 February 2006.

Seven Board members will be stepping down and 7 new members appointed, also with effect from 1 February 2006. (Please see details in Annex.)

Mr. Philip Yeo, currently Chairman, Agency for Science, Technology and Research (A*STAR) will be stepping down as Co-Chairman of EDB with effect from 1 February 2006.However, Mr. Yeo will continue to drive and promote the development of the biomedical sciences (BMS) sector that he has been responsible for since 2000.

Out-going Co-Chairman, Mr Philip Yeo

Mr. Philip Yeo was appointed a Board Member of the EDB in January 1982, and Chairman of the Board on 1 January 1986.Mr. Yeo took over as Chairman at a time when Singapore was in the throes of a recession.He moved quickly to steer EDB into new areas of economic development, such as developing high-tech clusters like semiconductors, aerospace and chemicals, promoting service industries, nurturing local small and medium enterprises, and encouraging Singapore companies to make direct investments abroad.

Under Mr. Yeo’s leadership, EDB also took on the challenge of greenfield projects that today define the diversity of the Singapore economy. Key achievements include the setting up of industrial parks in Batam, Bintan, Bangalore, Vietnamand Wuxi, and the creation of Jurong Island as the flagship of our chemicals industry. From 1986 to 2000, new manufacturing fixed asset investments increased from $1.5 billion p.a. to a high of $9.2 billion p.a., and incremental total business spending in services from $0.2 billion p.a. to $1.9 billion p.a. These have created many new jobs for Singaporeans.

In 2000, Mr. Yeo embarked on creating the new Biomedical Sciences (BMS) Cluster to cover the full spectrum of BMS, from R&D to Manufacturing to Health Care Delivery. In February 2001, he was appointed Chairman of the National Science & Technology Board (now A*STAR), whilst retaining his appointment in EDB as Co-Chairman, to provide continuity and close coordination between the two agencies.

MTI and EDB wish to place on record their appreciation to Mr Yeo for his invaluable contributions in the transformation of EDB into one of the most widely-admired economic development agencies in the world.

New Deputy Chairman, Mr Lim Siong Guan

Mr Lim Siong Guan is currently Permanent Secretary (Finance).Since 1981, Mr Lim has held various appointments as Permanent Secretary, including PS (Defence), PS (Prime Minister’s Office), PS (Education), and PS (Finance).He was also the Head of Civil Service from September 1999 until 1 April 2005, when he relinquished his appointments as Head of Civil Service and Permanent Secretary (Special Duties) in the Prime Minister’s Office. 

Mr Lim will take over from Mr Teo Ming Kian as Chairman, EDB with effect from 1 October 2006.

Issued by:

MINISTRY OF TRADE AND INDUSTRY AND
ECONOMIC DEVELOPMENT BOARD
27 JANUARY 2006 

Annex

Board Members of EDB

New Board Members

EDB welcomes 7 leaders in their respective fields, in addition to Mr Lim Siong Guan, who will serve a two-year term ending January 2008. They are:

(i) Dr Ulrich Ackermann

President & CEO, Schott Asia

After graduating with a doctorate degree in Physics in 1983 from University of Bochum, Germany, Dr Ackermann joined Brown Boveri AG in 1984.In 1988, he joined the Optical Transmission Technology division of Schott and gradually took up leadership positions in Germany. In January 2005, he was appointed President and CEO of Schott Asia.

(ii) Mr Goh Chye Boon

Executive Director (S2006 Project), Monetary Authority of Singapore

After graduating from the University of London in 1992, Mr Goh started work with the Ministry of Defence. Mr Goh was appointed as the Director of Fiscal Planning in the Ministry of Finance in 2001.In 2004, Mr Goh was appointed as the Executive Director of External Department at the Monetary Authority of Singapore (MAS).He currently also co-chairs the Organizing Committee for the 2006 IMF-World Bank Group Board of Governors Annual Meetings which will be held in Singapore. Mr Goh also has a post-graduate degree from Harvard University.

(iii) Ms Lynne M Lachenmyer

Asia Pacific Manufacturing Director, ExxonMobil Chemical Asia Pacific

Ms Lachenmyer assumed the responsibility as Asia Pacific Manufacturing Director in July 2004.She began her career with Mobil Oil Corporation and has worked in Refining, Supply, Marketing and Chemicals. Post merger with Exxon, she held the position of Aromatics Product Executive for ExxonMobil Chemical and in 2002 became the Vice President of the Aromatics Global Business unit.

(iv) Mr Robert Alan Myers

Managing Director & CEO, Cardinal Health Singapore

Mr Myers graduated with a degree in Business from University of Tennessee and started work at the American Hospital Supply Corporation/Baxter International in 1988, staying until 1996.He also worked in Malaysia as the Managing Director of Allegiance International from 1996-1997.Mr Myers assumed the role of Managing Director & CEO of Cardinal Health Singapore in 2004.

(v) Mr Eduardo Rosini

Regional Vice President, Asia Pacific, Microsoft Operations

Mr Rosini assumed leadership of Microsoft’s Asia Pacific sales and marketing organization as Regional VP in October 2004.A 12-year Microsoft veteran, Mr Rosini has held various leadership roles in other regions prior to Asia Pacific. He led the successful launch of XBOX in Europe, and was responsible for the overall home and entertainment business in Europe, Middle East and Africa. Prior to that, he was the General Manager for Microsoft in Argentina and had worked in the company's headquarters in Redmond in a leadership role in its Enterprise and Partner Group.

(vi) Mr David J Ross

Regional Vice President, South Pacific, Federal Express

Mr Ross began his career with Federal Express in Australia in 1992 and was promoted to Managing Director of Australasia and Pacific Islands in 1993.In 1995, he became the Managing Director for Hong Kong & Macau, one of the most important regions for FedEx, before his promotion in 1998 to Regional Vice President for FedEx’s operations in the North Pacific, based in Tokyo. In April 2005, Mr Ross moved to take up the position of Regional Vice President, South Pacific, and is based at the South Pacific regional head office in Singapore

(vii) Mr Bernard Toh Bee Yong

Executive Chairman, UniSteel Technology

Mr Toh is the Founder and Executive Chairman of Unisteel Technology Limited, a local company listed on the Main Board of the Singapore Exchange. With 19 years of experience in the electronics and data storage business, he has been the main driving force behind the growth and expansion of Unisteel.

Outgoing Board Members

EDB also extends its warmest thanks to the following members, in addition to Mr Philip Yeo, who have contributed to EDB and Singapore during the term of their appointment. EDB is grateful for their valuable suggestions, direction and guidance. They are:

(i) Mr Paul Chan

Senior VP & Managing Director, Hewlett Packard Asia Pacific

(ii) Ms Ellen Cunniff

President Asia Pacific, Becton Dickinson

(iii) Mr Chay Kwong Soon

Chairman, Beyonics Technology

(iv) Mr Goh Aik Guan

Deputy Secretary, Ministry of Health

(v) Dr Harald Lauke

President BASF South East Asia

(vi) Mr John Mullen

Joint Chief Executive, DHL Express

(vi) Dr Reiji Ohtaki

Regional Director, Asia, Mercer HR Consulting

Reappointments

EDB welcomes the reappointment of the following board members:

(i) Mr Teo Ming Kian

Chairman, Economic Development Board

(ii) Mr Ko Kheng Hwa

Managing Director, Economic Development Board

(iii) Mdm Halimah Yacob

Assistant Secretary General, National Trades Union Congress

Board Members of EDB

With the above changes and existing board member Mr Motonobu Takemoto, President, Toyota Motor Asia Pacific, the Board of EDB will comprise the following 12 members wef 1 Feb 2006:

1. Mr Teo Ming Kian, Chairman EDB

2. Mr Lim Siong Guan, Deputy Chairman EDB

3. Mr Ko Kheng Hwa, MD EDB

4. Mdm Halimah Yacob

5 .Mr Motonobu Takemoto

6. Dr Ulrich Ackermann

7. Mr Goh Chye Boon

8. Ms Lynne M Lachenmyer

9. Mr Robert Alan Myers

10. Mr Eduardo Rosini

11. Mr David J Ross

12. Mr Bernard Toh Bee Yong