SPH Media Trust (SMT) chairman Khaw Boon Wan will step down after five years at the helm, with chief executive officer Chan Yeng Kit taking over the role while continuing as CEO.
The leadership changes, reached after consultation with SMT’s institutional members and board directors, are subject to regulatory approval and expected to take effect on Oct 1.
“As the SPH operations have stabilised, I think it is a good time for me, a retiree, to wind down my involvement in this project,” said Mr Khaw, 73.
The former coordinating minister for infrastructure and transport minister retired from politics in 2020 and was appointed chairman of SMT in May 2021.
His appointment came during a major restructuring of Singapore Press Holdings (SPH), when its media operations were transferred from the publicly listed company into a not-for-profit company limited by guarantee (CLG).
The move came as SPH’s traditional advertising-funded business model faced mounting pressure from digital disruption. Sixteen institutional members, including major Singapore banks and universities, replaced commercial shareholders as custodians of the media business.
Mr Khaw said the new structure relieved the organisation of short-term profit and dividend pressures and enabled it to focus more effectively on its public mission of providing quality and trustworthy news.
He said the CLG has not wasted the last five years and made progress in revenue, reach and reputation.
SPH Media now reaches nearly nine in 10 digital and print readers in Singapore each week, he noted, while its digital transformation included redesigned or refreshed apps for Tamil Murasu, The Straits Times, Lianhe Zaobao, and Berita Harian.
Mr Khaw also highlighted the organisation’s coverage of the 2025 General Election and SG60 celebrations, as well as international industry awards.
He credited the management team led by Mr Chan with sharpening SPH Media’s mission and accelerating its digital transformation.
“With Mr Chan Yeng Kit and his team firmly established, this is the right time to move aside,” Mr Khaw said.
Mr Chan’s appointment is notable as he will become the first chairman of SPH Media and its predecessor in 20 years who was not previously a Cabinet minister.
Mr Khaw said being a former minister was useful but not essential for the position, adding that Mr Chan’s experience in new media and technology gave him an advantage.
Mr Chan previously served as permanent secretary of the former Ministry of Information, Communications and the Arts and founding chairman of the Infocomm Media Development Authority.
“I am confident he and his team will do well,” Mr Khaw said.
