NOL Group announced that its Chairman, Mr Cheng Wai Keung, will retire from the NOL Board after its annual general meeting scheduled in April 2012.
Mr Cheng will be replaced by Mr Kwa Chong Seng, who will be appointed as Director of the NOL Board with effect from 1 January 2012. Mr Kwa will assume the chairmanship of the NOL Board when Mr Cheng retires after serving the Board for 20 years, the last 10 years as Chairman of the Board.
Mr Kwa Chong Seng is the Deputy Chairman of the Board of Directors of Temasek Holdings
(Private) Limited. He was Chairman and Managing Director of ExxonMobil Asia Pacific Private
Limited before retiring in October 2011. A graduate from the University of Singapore, Mr Kwa was
conferred the Distinguished Engineering Alumni Award by the National University in 1994, and
the Honorary Ningbo Citizenship in 1999. In 2005, he was awarded the Singapore Public Service
“On behalf of the NOL Board, I welcome Chong Seng. NOL will benefit greatly from the depth and
breadth of his experience particularly in the capital intensive oil industry. His leadership will bring
fresh perspectives to help navigate NOL through unchartered waters ahead. I am confident NOL
will grow and achieve a higher level of excellence,” said Mr Cheng.
Mr Kwa said, “It is my privilege to be able to serve on the NOL Board. I look forward to working
closely with the board, management and staff of NOL to enhance the interest of all stakeholders. I
would like to also take this opportunity to thank Wai Keung for his legacy and will endeavor to
lead NOL to greater success in the future.