SINGAPORE – NTUC Income on Monday named Mr Stephen Lee Ching Yen as its new Chairman, effective January next year.

Mr Lee will succeed Mr Ng Kee Choe, who will assume the role of Special Advisor to the Board when he steps down as Chairman after nine and a half years with the insurer, NTUC Income said in a statement.

Mr Lee, the Chairman of Singapore Airlines and SIA Engineering, has had a distinguished career in both the private and public sectors, NTUC Income said.

The former Nominated Member of Parliament is an alternate member of the Council of Presidential Advisers and President of the Singapore National Employers’ Federation.

He is also Managing Director of Shanghai Commercial & Savings Bank (Taiwan) and Great Malaysia Textile Investments. His other appointments include directorship in Shanghai Commercial & Savings Bank (Hong Kong), COFCO Corp (China) and the Singapore Labour Foundation, and membership of the Temasek Advisory Panel and National Wages Council.