Mark Lee has been appointed as the new chairman of the Singapore Business Federation (SBF), succeeding shipping executive Teo Siong Seng.
The leadership transition follows Teo’s leave of absence from the post after he was accused in the United States of involvement in a price-fixing cartel.
Teo’s term officially concluded on Wednesday, clearing the way for the immediate succession.
The appointment of Mark Lee signals a shift in leadership for one of Singapore’s most influential business advocacy groups.
The SBF plays a central role in shaping the country’s economic policy dialogue and representing corporate interests to the government.
The change comes at a time when global supply chain dynamics and regulatory scrutiny remain high priorities for Singaporean businesses.