Grab co-founder Tan Hooi Ling to step down from operational roles

SINGAPORE — Singapore-based Grab Holdings said on Thursday (May 25) that its co-founder Tan Hooi Ling will step down from her operating roles at the ride-hailing company by the end of this year.

Ms Tan, who co-founded Grab with CEO Anthony Tan in 2012, will transition into an advisory role, the company said.

Her succession plan has been in place for a while, Mr Tan wrote in an internal memo to employees, adding that Ms Tan will also give up her board directorship.

"People who know me well know that I am an adventurer at heart, and there are many other personal passions that I have put aside to build Grab with Anthony," Ms Tan said in a statement.

"With the strong leadership bench we currently have, I believe now is the right time for me to pass on the baton to our next generation of leaders, and to pursue these other passions."

In response to TODAY's queries, Grab said that in his internal email, Mr Tan also "reiterated his support" for Ms Tan, and expressed confidence that Grab now has the "strongest leadership bench we've ever had".

Grab said that its management team consists of long-serving staff members and additions in recent years include chief financial officer Peter Oey, chief operating officer Alex Hungate, both of whom have "decades of public company experience collectively".

"Having built a strong leadership bench and given Ling's succession plan has been in place for a while, business will continue as usual," it added.

Mr Tan and Ms Tan developed Southeast Asia's biggest ride-hailing and food delivery firm from an idea for a Harvard Business School venture competition in 2011.

In the memo, Mr Tan said that Ms Tan will not be replaced immediately. The nominating committee will consider candidates to supplement the board only later this year.

Ms Tan currently leads Grab's technology division and has served as a board member since its public listing in December 2021.

After co-founding the now-super app, she worked in the US — including at the McKinsey consultancy and tech giant Salesforce — before rejoining Grab in April 2015.

The engineering and Harvard MBA graduate then served as chief operating officer until January 2022.

Describing how he and Ms Tan had set out with a vision to build a "double, now triple, bottom line company together", Mr Tan said: "Ling has invested herself fully into setting up the right leadership bench and cultural foundations for Grab to thrive for the long-term.

"While I will miss working with her dearly, I thank her for the many years of trust and partnership, and wholeheartedly support her decision to pursue her personal passions.”  AGENCIES