Search for New CEO underway
In a shocking statement, MediaCorp yesterday announced that Lucas Chow will be resigning from the company as its CEO on 31 July this year and that it has already initiated the search for his successor.
The flamboyant Lucas joined MediaCorp in December 2005, and took it through some of its most challenging years, including the world recession that started in 2009. Under his leadership, MediaCorp not only weathered the financial storm, but emerged stronger in terms of stature and media offerings:
· Garnering several international accolades, including last year’s double win of Asian Television’s Terrestrial Broadcaster and Terrestrial Channel.
· Major product innovation and launches, among them the popular video portal xinmsn.sg, high definition channel HD5, out of home business and soon-to-be-launched Over-the-Top TV service.
· The restructuring and integration of MediaCorp’s sales and marketing division, pulling together the efforts of TV, radio, print and interactive to provide a one-stop solution for advertisers.
· Starting and leading a regional broadcasters’ association called SMART Alliance, which aims to synergise efforts in programming, sales and technology.
· Strategic investments in Indonesian media conglomerates PT Media Nusantara Citra and its parent company, PT Global Mediacom.
“I am very grateful to my colleagues who have worked tirelessly with me all these years, and fortunate to have had the guidance of chairmen Ho Kwon Ping and Teo Ming Kian, as well as a supportive board. For the next phase of MediaCorp’s development, I wish the new CEO well in taking the company to even greater heights, as well as moving physically to a new campus at Mediapolis. I think the timing is right for a new CEO to take over the reins from here. Having been with MediaCorp for five years, I think I have done what I have set out to do, and it is time to move on. I will be joining another company which is in a different line of business and look forward to new challenges.”
Mr Teo Ming Kian, MediaCorp Chairman, “Lucas has built up MediaCorp to what it is today in the five years as its CEO. Under his watch, MediaCorp has done well to keep up with audiences’ needs and changes sweeping the media industry We have set up a Search Committee to consider candidates from outside and within the company as his replacement. I am confident that with the robustness of MediaCorp and the commitment of its management and staff, the transition to the next CEO will be a smooth one.
AdLib wishes Lucas well in his future endeavours.