Singapore shipping and logistics company NOL Group has announced that Ng Yat Chung will take over as CEO from October 1.
Mr Ng, a NOL executive director since May, succeeds Ron Widdows, who retires from the company on December 31.
'We have completed the implementation of our executive succession plan, and are moving ahead under Yat Chung,' NOL chairman Cheng Wai Keung said in a statement.
'There are important decisions to be made that will affect NOL into the future, thus it is a good time to put our new management team in place.'
NOL elected Mr Ng as its next CEO last April when Mr Widdows announced he would retire after 30 years with the company.
Mr Ng takes up the CEO role on October 1, while Mr Widdows becomes a senior advisor to the company.
NOL said the transition to new leadership was concluded ahead of schedule, permitting the company to accelerate succession plans in the midst of a difficult operating environment for transportation and logistics providers.
NOL is the parent of APL, the world's seventh-largest container shipping line.
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