Daryl Ng to Step Down as Yeo's Chairman After AGM in April

His successor, banking veteran Na Wu Beng, has served as deputy chairman since 2023

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Yeo Hiap Seng's board chairman Daryl Ng, grandson of the late Mr Ng Teng Fong who was the founder of Far East Organization (FEO), said on March 25 that he will step down from his role after the drinks maker's upcoming annual general meeting (AGM) on April 23.

Mr Daryl Ng, 46, has served as board chairman for around five years, and will concurrently step down from his role as non-independent, non-executive director after the AGM. He is stepping down as part of a "planned leadership transition" and will continue to pursue "various business and philanthropic efforts", Yeo Hiap Seng said.

He will be succeeded by banking veteran Na Wu Beng, who has served as deputy chairman and independent director since 2023.

Mr Na will be replaced by Mr Edward Averrill Ng, 33, a non-independent, non-executive director of the company since March 1, 2024.

Mr Edward Ng is also a grandson of the late Mr Ng Teng Fong, the son of FEO's former chief executive Philip Ng and the brother of FEO's current CEO Jonathan Ng. Mr Daryl Ng is the son of Mr Philip Ng's brother Robert Ng, who is the chairman of Hong Kong-listed Sino Group, FEO's sister company.