FAR East Orchard (FEO) group CEO and managing director Lucas Chow, 61, is retiring with effect from September 1 and will be succeeded by Lui Chong Chee, 54, a director at FEO since June 1, 2008.
The move surprised some people in the industry, who thought Chow would lead FEO for longer than two years, although Chow told TTG Asia e-Daily: “It is always my plan to retire before I turn 62.”
In the two years, Chow led FEO through a successful restructuring exercise that diversified the company’s income stream by going into hospitality and healthcare real estate (TTG Asia, April 25, 2014) and expanded FEO’s portfolio with two mergers and acquisitions, The Straits Trading Company and Toga.
Chow will also retire as executive director of Far East Organization, a position he has held since June 2011.
New CEO Lui, a well-regarded leader, brings extensive financial and management leadership experience from major listed companies, including as CFO of Raffles Medical Group and CEO of CapitaLand Financial Limited.
