Peter Seah steps down as chair of National Wages Council for personal reasons; Hsieh Fu Hua takes over
Mr Seah, 79, has been the chairman of the National Wages Council since 2015.
Former National Wages Council chairman Peter Seah (left) will be succeeded by Hsieh Fu Hua (right). (Photos: LASALLE College of the Arts, World Wide Fund for Nature Singapore)
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SINGAPORE: Mr Peter Seah, chairman of the National Wages Council (NWC), has asked to relinquish his role for "personal reasons", the Ministry of Manpower (MOM) said on Wednesday (Aug 19).
The ministry decided to accede to the request "after deliberation", MOM said in a press release.
He will be succeeded by Mr Hsieh Fu Hua, who joined the council on Aug 7 as its deputy chairman.
Mr Seah, 79, has been chairman of NWC since 2015. The council is a tripartite body that develops wage guidelines.
Mr Seah is also the chairman of DBS bank, Singapore Airlines and LASALLE College of the Arts. He has been a member of the Council of Presidential Advisers since 2021.
CNA has reached out to these organisations to ask if his appointments there will continue.
Mr Seah remains non-executive chairman of DBS Group Holdings, the bank said. LASALLE College of the Arts also confirmed that he is still chairman.
The government expressed deep appreciation to him for many years of dedicated service as NWC chairman.
MOM said: "Under his strong stewardship, the NWC navigated some of the most challenging periods in Singapore's economic history, including the COVID-19 pandemic."
It added: "His leadership was instrumental in building and sustaining the tripartite consensus that underpinned Singapore's wage policies during his tenure, which provided critical support for our workers and Singapore's continued economic development."
Mr Hsieh, 75, is the chairman of the National University of Singapore board of trustees and serves in other organisations, including as deputy chairman of CapitaLand Investment and the board director of sovereign wealth fund GIC.
He was previously president of the National Council of Social Service, chief executive officer of the Singapore Exchange and president of state investor Temasek Holdings.
"His experience in bringing together diverse stakeholders and building consensus will be valuable in leading NWC's upcoming tripartite deliberations on wage issues," MOM said.
NWC is set to convene on Wednesday to develop its annual wage guidelines for Dec 1, 2026 to Nov 30, 2027.
MOM previously said that the council aimed to release the guidelines, which also cover progressive wage growth for lower-wage workers, by end-October.
