OCBC Bank announced that Dr. Cheong Choong Kong will retire as Chairman of its Board of Directors on 31 August 2014. He will be succeeded on 1 September 2014 by Mr. Ooi Sang Kuang, the non-executive lead independent director of the Board. Dr. Cheong will remain a director of OCBC Bank and Great Eastern Holdings, providing continuity so the OCBC Group can continue to benefit from his experience and wise counsel for a little longer.

From March 2002 to June 2003, Dr. Cheong served as Vice Chairman of the Board before being appointed Chairman on 1 July 2003. He became a director of Great Eastern Holdings in 2005. Mr. Ooi was appointed the non-executive lead independent director of the main Board on 31 October 2013.

He became Deputy Chairman of the Board of OCBC Bank (Malaysia) Berhad on 27 November 2012, and was made Chairman on 30 March 2014.