Ron Widdows has made an early exit as chief of Neptune Orient Lines ahead of his retirement at year-end, Seatrade Asia reports.
Former Singapore chief of defence, Ng Yat Chung, took over from Widdows from 1 October as president and ceo of NOL. Widdows retires at the end of the year and will remain as a senior advisor to the company.
“We have completed the implementation of our executive succession plan and are moving ahead under Yat Chung,” said Cheng Wai Keung, chairman of NOL.
“It has become clear that the environment has changed, that numerous important decisions need to be taken and that most of those will have an effect on our business and our company well beyond the end of this year,” Widdows and Ng said in a joint statement.
“As such, we both feel strongly that it is in the best interest of the company that the new leadership begins to drive the company and shape these important decisions now, and not wait until 2012.”
Former Singapore chief of defence, Ng Yat Chung, took over from Widdows from 1 October as president and ceo of NOL. Widdows retires at the end of the year and will remain as a senior advisor to the company.
“We have completed the implementation of our executive succession plan and are moving ahead under Yat Chung,” said Cheng Wai Keung, chairman of NOL.
“It has become clear that the environment has changed, that numerous important decisions need to be taken and that most of those will have an effect on our business and our company well beyond the end of this year,” Widdows and Ng said in a joint statement.
“As such, we both feel strongly that it is in the best interest of the company that the new leadership begins to drive the company and shape these important decisions now, and not wait until 2012.”