Singapore Exchange CEO Loh Boon Chye on Friday called for the bourse operator to start planning for an eventual leadership transition, although no date had been set for his departure.
In a statement delivered at SGX's annual general meeting, Loh, whose contract runs until mid-July 2027, said he had recently informed the chairman that planning should begin for a future CEO transition.
The potential transition comes as SGX seeks to build on growth across its securities, derivatives and foreign exchange businesses, while Singapore pushes to reinvigorate its equities market and attract more listings.
SGX shares were down 0.5% at S$20.73 as of 0501 GMT.
"I wouldn’t expect succession planning alone to derail SGX’s growth. Uncertainty could weigh on sentiment if the process drags on, but a clear handover plan and a credible appointment should help keep investors focused on the business," said Glenn Yin, director of research at online trading platform ACCM.
Loh joined the bourse operator as chief executive officer in July 2015 and also serves as an executive and non-independent director on its board.
Last year, the city-state introduced a 20% tax rebate for primary listings and established a framework for dual listings on the SGX and Nasdaq, as part of broader efforts to strengthen its capital markets. Reuters
