BreadTalk Group said Wednesday CEO Chu Heng Hwee would resign, effective 31 December, with Executive Chairman George Quek Meng Tong set to take over the CEO role.
Chu is resigning due to personal and health reasons, the bun maker said in a filing to SGX.
“The board would like to express its appreciation to Mr. Chu for his contribution during his tenure as the group chief executive officer of the company,” BreadTalk said.
Eartlier this month, BreadTalk reported its second quarter net profit dropped 57.9 percent on-year to S$1.0 million amid changes to accounting standards for leases.
Revenue for the quarter ended 30 June rose 9.8 percent on-year to S$163.3 million, the bun maker said.
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