SMRT Corp Ltd : SMRT Board accepts Saw Phaik Hwa’s offer of resignation; Board Director, Tan Ek Kia, to serve as Executive Director

6 January 2012

SMRT Corporation Ltd

251 North Bridge Road

Singapore 179102

Tel : [phone]

Fax : [phone] www.smrt.com.sg

SMRT BOARD ACCEPTS SAW PHAIK HWA'S OFFER OF RESIGNATION; BOARD DIRECTOR, TAN EK KIA, TO SERVE AS EXECUTIVE DIRECTOR

The Board of Directors of SMRT Corporation Limited has accepted the offer of resignation from the President and Chief Executive Officer (CEO), Saw Phaik Hwa. Ms Saw will conclude her executive responsibilities with effect from today.
Ms Saw will remain with the Group to assist the relevant investigation teams and the Committee of Inquiry (COI) reviewing the causes of, and responses to, the disruptions to train operations in December, and with the transition to new executive leadership.
Board Member, Mr Tan Ek Kia, will assume interim executive responsibility for the management of SMRT, with a particular focus on rail operations, while the Board conducts a search for a new CEO.
Mr Tan has been a Board Director of SMRT since July 2009. He is a former Managing Director of Shell Malaysia Exploration and Production and Chairman of Shell North East Asia. He has diverse experience in engineering & construction, safety, operations and business management.
Chairman of SMRT, Mr Koh Yong Guan, said: "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."
He also thanked Ms Saw for her dedicated service as President over the last nine years.
"On 7 December, Phaik Hwa spoke to me about her desire to move on during 2012, after having served nine years and led SMRT through considerable growth. The growth in the Group's network has included new stations on the East-West line, the new Circle Line, and the bus and taxi network, transforming SMRT to a multi-modal public transport corporation. In addition, new business segments have been created, capitalising on opportunities in retail and advertising to diversify the Group's revenue base.
"During her tenure, SMRT has delivered strong results, and is regarded as one of the world's leading public transport operators," Mr Koh said.
Ms Saw said that she acknowledged the time was right for the Board to look at new leadership for the organisation.

SMRT Corporation Ltd

"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. This is the culmination of a discussion I began with the Chairman in early December.
I also feel it is important for me to stay on and support the relevant inquiries, and the transition to new leadership. I will also be supporting Ek Kia as he leads the organisation through its transition to a new CEO."
Executive Director, Tan Ek Kia, said he would work quickly to ensure the leadership team of SMRT has whatever support they need to ensure the delivery of reliable public transport services to commuters.
"The staff of SMRT are aware of public expectations that we deliver on our commitment to learn lessons from December's incidents. My focus will be on ensuring that we meet our commitment to public to provide reliable public transport services. I will put a particular emphasis on rail as the cornerstone of our public transport system.
"I will be giving the organisation the leadership and support it needs, through the transition, to ensure all commuters continue to have a reliable public transport system."

- End -

CRN: 200001855H