Ng Yat Chung will take over the helm of Singapore-based shipping firm Neptune Orient Line (NOL) when current CEO Ron widows retires at the end of this year.
Mr Ng, who is a former chief of Singapore’s defence force, took on the role of executive director of the company on 1 May, and will become CEO and president on 1 January 2012, according to a statement from NOL.
The company reported that Mr Ng would work closely with Mr Widdows until his retirement at the end of the year.
NOL reported a net profit last year of US$461m, rebounding from a loss of US$741m in 2009.
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