SINGAPORE: Peter Seah has stepped down as chairman of the National Wages Council (NWC) for personal reasons, the Ministry of Manpower (MOM) announced on Wednesday (Aug 19). The ministry said it acceded to his request after deliberation.
Hsieh Fu Hua, a prominent businessman and former CEO of the Singapore Exchange, has been appointed as the new chairman. Hsieh brings extensive experience in corporate governance and finance.
MOM expressed gratitude to Peter Seah for his contributions during his tenure, which included guiding wage guidelines during challenging economic times. The ministry also welcomed Hsieh's appointment, expressing confidence in his ability to lead the council.
The NWC is a tripartite body that formulates wage guidelines for workers in Singapore. Its recommendations are considered by the government and employers.
