FWD Group Holdings Limited has announced that Professor Frederick Ma, currently Deputy Chairman and an Independent Non-Executive Director, has been appointed Chairman of the Board of Directors, effective immediately.
Prof. Ma succeeds Ronald Arculli who is retiring as chairman.
FWD Group has stated that Arculli will remain as a Non-Executive Director until the earlier of the end of the calendar month in which the company completes its planned initial public offering or 30 December, whichever comes first.
Prof. Ma joined FWD’s board in 2013. Prior to being appointed chairman, he was deputy chairman and an independent non-executive director.
In addition, he also has extensive experience in the public sector. Currently he serves as an independent non-executive director at HKEX-listed COSCO Shipping Holdings Co., Ltd. and Guangshen Railway Company Limited, as well as New York Stock Exchange-listed HH&L Acquisition Co.
“Fred is the ideal person to serve as Chairman – he has been intimately involved in our journey so far and understands what it takes to successfully execute our vision of changing the way people feel about insurance,” said Arculli.
“I’m excited for what lies ahead under Fred and CEO Phong’s leadership as the Company enters its next phase of growth.”
Prof. Ma, commented: “Under Ron Arculli’s stewardship, we have built a fast-growing insurance company that is making protection easy, accessible and affordable for millions of people across Asia. I’ve had the privilege of working alongside Ron for almost nine years and am honoured to succeed him as Chairman as we build on the Company’s success to generate lasting value to our investors, customers, communities and other stakeholders.”
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, added: “On behalf of the Company, I want to express my sincere gratitude to Ron for his tireless dedication and commitment to FWD Group. Ron’s counsel and guidance from the Boardroom has been instrumental to our growth and helped shape our strategic direction.
“Fred has deep and valuable strategic insights across the full breadth and complexity of business environments. I look forward to working with him in his new role as we continue to execute FWD Group’s proven strategy to capture Asia’s underserved life insurance market.”
