Business

BreadTalk group chief executive Henry Chu resigns

BreadTalk group chief executive Henry Chu has resigned for "personal and health reasons", it was announced yesterday.

Mr Chu, 49, will leave at the end of the year, with company founder and group executive chairman George Quek acting as interim CEO.

Mr Quek, 62, said: "On behalf of the board, I would like to thank Mr Henry Chu for working tirelessly with the senior management team to maximise growth opportunities and successfully diversify our portfolio of brands in the last two and a half years."

Mr Chu has been overseeing the company's global operations and will continue in this role during the transition period.

The company's spokesman said Mr Chu will take time off to rest after leaving the firm, as he has been "travelling extensively for work over the last couple of years and it has taken a toll on him".

Mr Quek noted that under Mr Chu's leadership, the food empire entered partnerships with notable brands such as Wu Pao Chun Bakery and Song Fa Bak Kut Teh and expanded into new markets, including the UK and Cambodia.

Mr Chu, who has more than 20 years of experience in food and beverage and retail in Singapore and the region, rejoined BreadTalk as group managing director in October 2016 before taking over as group CEO less than a year later. He had previously served as CEO of BreadTalk's bakery division.

Before joining BreadTalk, he was director of operations at Delifrance and operations director with Starbucks in Thailand and China.

BreadTalk said it will look inside and outside the firm for a new CEO.

DBS analyst Alfie Yeo said there is unlikely to be significant changes to BreadTalk's operations, as the company has a strong management and organisation set-up. - THE STRAITS TIMES

BUSINESS & FINANCE