CEO of listed company by 35

[frenchfly]

Jacqueline Woo
The Straits Times
Wednesday, Oct 15, 2014

When Mr Jeff Cheong set foot into the working world as a junior investment broker in 2003, he found himself living on just a monthly salary of $1,000 and a daily diet of bread.
A few years on, as an associate director in another banking firm, Mr Cheong stood out as one of the top-performing sales staff. But he was refused a promotion due to his tender age - he was 23 then.
Still, Mr Cheong built on his early success to zoom up the corporate ladder, armed simply with a desire to "do well" in his career.
Now 32, he holds the position of chief executive of Singapore-listed property and clean energy firm Sinjia Land, a company that logged an annual revenue of $17.3 million last year.
His position propels him into the ranks of only a handful of CEOs of listed companies here - and around the world - who are under 35 years old.
Other members of this exclusive club include 34-year-old Daniel Schwartz, who was recently named to head Burger King after its merger with Canadian food and beverage chain Tim Hortons.
Among the companies in Standard & Poor's 500-stock index, the average age of an incoming chief executive last year was 53.
In Singapore, the majority of chief executives - four in 10 - are between 40 and 60 years old. The eldest is 80 and the youngest is 31, according to data from the Centre for Governance, Institutions and Organisations under the National University of Singapore (NUS) Business School.
Only 7 per cent of local corporate chiefs are between the ages of 30 and 40.
"These young chief executives are often the younger generation running family firms, where it is not uncommon for the elder generation to hold on to the position of chairman or places on the board," said Dr Marleen Dieleman, associate director at the NUS centre.
On the whole, she noted that the leadership of Singapore-listed firms seems to be ageing. The average age of bosses last year was 54, up from 52 in 2010.
For unlisted firms, however, it is "not surprising" to see younger chief executives who have founded their own companies and now run them, said Associate Professor Mak Yuen Teen.
But he added that such situations can have some drawbacks.
"There are some very young people who may be brilliant entrepreneurs but lack the broader leadership and management skills as well as the experience required of a chief executive," he added.
Being one of the youngest bosses of a listed firm does come with a unique set of challenges, noted Mr Cheong, who was invited to join Sinjia Land's board in 2011.
"At first, it wasn't easy to tell staff who were in senior positions what to do," he recalled. "And even when I did, it was hard to convince them that it was the right way to go."
He added: "It's probably human nature for people to question your ability and whether your success is the result of a stroke of luck, but that's where I have to work hard to prove myself and earn their respect."
Mr Adrian Lee, 34, who is managing director of Singapore-listed oil and gas company Loyz Energy, also noted that a young management team may be a roadblock to attracting industry veterans or potential business partners to the company.
"But there are no short cuts to success. It's important to persevere and work hard, even though we may be rebuffed and snubbed," he said.
Mr Lee was named Loyz's executive director in 2011. The firm, set up in 2010 via the reverse takeover of sanitary-ware maker Sim Siang Choon, made $8.6 million in revenue for the quarter ended June 30.
All the same, being a young CEO has its merits as well, noted Ms Wong Su-Yen, a member of the governing council at Singapore Institute of Directors.
"While it is difficult to generalise, younger CEOs are less likely to be saddled by history and more attuned to emerging technologies and innovations," she said.
"They also tend to have contemporary perspectives on the workplace. Leveraging social media, for example, would typically be second nature, as would openness to flexible working arrangements."
Corporate boards, for their part, should take responsibility in ensuring that the CEO is "suitably qualified for the role", regardless of age, added Ms Wong.

This article was first published on Oct 13, 2014.
Get a copy of The Straits Times or go to straitstimes.com for more stories

http://business.asiaone.com/news/joining-the-exclusive-club-ceos-aged-under-35





i lagging behind, no wonder so many young richie .

[Wt_know]

another propaganda of rags to riches in singapore?

Edited October 15, 2014 by Wt_know

[frenchfly]

dont think so, if private limited company maybe can smoke through but listed on SGX, should be real.

 

damn , must stop coming here and climb the corporate ladder and drive flashy cars and wear lolek and be like T2, king of full cash and lolek

Edited October 15, 2014 by frenchfly

[Watwheels]

Whoa, 40yo can retire liao but CPF have to wait another 15-17 years. LoL...

[Little_prince]

Even some blue chip coys ceo/coo v young

 

Singpost ceo was like 36 when he came aboard. The coo was 35.

 

Good is that they v willing to promote young chaps. Bad is they usually v v aggressive in changing old blood as perceived roadblocks

[Watwheels]

If you are 40yo would you take command from a 20yo?

 

On the other hand if ppl do not listen to you of course you would remove them and hire ppl who listens to you. You are the boss you get what you want.

[Kusje]

Even some blue chip coys ceo/coo v young

 

Singpost ceo was like 36 when he came aboard. The coo was 35.

 

Good is that they v willing to promote young chaps. Bad is they usually v v aggressive in changing old blood as perceived roadblocks

 

There's nothing wrong with changing old blood if they are indeed impeding progress within a company.

 

Experienced staff should still be willing to learn and try new things instead of just saying last time this and last time that.

 

Sorry to say this but times are changing (as it has been throughout history) so people have to keep up or get off the road.

If you are 40yo would you take command from a 20yo?

 

On the other hand if ppl do not listen to you of course you would remove them and hire ppl who listens to you. You are the boss you get what you want.

 

Depends. If he got there through his competency and was not parachuted there because he knows someone or is related to someone then why not?

 

Maybe I can even learn something from him.

[Jamesc]

If you are good enough

 

you are old enough.

 

Its about competancy and not age.

 

[Freestylers09]

i tot JC at 28 already CEO before the change of name of the company to the current?

Edited October 15, 2014 by Freestylers09

[Myxilplix]

Jin satki man.

 

Everybody please keep reading all these "young, successful people" articles in ST every week. After reading, please realise you're not working hard enough and start pulling up your socks.

 

Because money is everything.

[Enye]

i am a failure in life

 

let me go and sob quietly in the corner

 

[Thaiyotakamli]

30+ become CEO most likely 2nd gen one

 

 

I am talking about big companies not those small companies with revenue less than 50m

[Freestylers09]

the stories of the cab and property development towkays came from china to here in early days and the cinema CEO one

 

is really amazing

 

i dont think its just about luck, i would say their effort paid off

 

like i said, how many dare to leave comfort zone to take such risk...

 

but when they are successful, people will say lucky,how many in 1 turn out like this..etc kind of comments..

 

this is the mentality that different from them which make them who they are today..

[Ktglfc]

Some ppl are really good... so have to give credit to this guy whom at this tender age, already a CEO of a listed company !

 

I sure can't manage cos I don't have the ability and capability..

One must know oneself whether can do or not

 

Hope he won't get burnt out too fast in his career :)

[Evillusion]

Some ppl are really good... so have to give credit to this guy whom at this tender age, already a CEO of a listed company !

 

I sure can't manage cos I don't have the ability and capability..

One must know oneself whether can do or not

 

Hope he won't get burnt out too fast in his career :)

burn out ok.....at least can reap what he sow....i know of 1 okay okay fella....not that rich but have his own business. Just told me he is 40 but having problems with his sex life......difficult to marikita. I told him i am 48 and still enjoying it regularly. You should see his face when i told him that! High pressure may lead to other problems hor....

[Celicar]

Just be the best CEO you can be of your own family, for most people, that's good enough.

[Evillusion]

That is very sad.

 

 

cannot say that to him lei....

[Evillusion]

You need help him. Take him to places where he can get more visual and sensual stimulation.

 

 

his workers can do that....not me. His workers are mostly young guys and funny lot. Can talk about girls until the cow vomes home...but not for my friend....his wife is his Secretary and ' Finance Manager'.....cannot run wan.......hahaha!