SINGAPORE — Former Cabinet minister Khaw Boon Wan will step down as chairman of SPH Media Trust (SMT) after five years at the helm, marking a major leadership transition for one of Singapore’s most prominent media organisations.
Khaw, 73, is expected to relinquish the chairmanship on October 1, 2026, subject to regulatory approval. He will be succeeded by SPH Media chief executive officer Chan Yeng Kit, who will hold both the chairman and CEO positions.
The move comes as SPH Media says its operations have stabilised and as the organisation enters another phase of digital transformation and leadership renewal.
WHY KHAW IS STEPPING DOWN NOW
Khaw said he believes the timing is right for him to reduce his involvement in the organisation after overseeing its transformation for five years.
He described himself as a retiree and said that with SPH Media’s operations now more stable, it was an appropriate moment to hand over the reins to the next generation of leadership.
He also pointed to the next General Election cycle, saying he would be more than 78 by then and did not think it would be wise for him to remain at the helm of such an important institution.
Khaw said Chan and his management team are already firmly established, giving them time to strengthen relationships with audiences, newsrooms and other stakeholders before the next major national events.
WHO IS CHAN YENG KIT?
Chan is not a newcomer to Singapore’s public sector or media landscape.
Before becoming SPH Media CEO in July 2024, he held senior positions across the Singapore Government, including serving as Permanent Secretary for Health, Permanent Secretary for Defence, and Permanent Secretary of the former Ministry of Information, Communications and the Arts.
He also previously served as chief executive of the Infocomm Development Authority and chairman of the Infocomm Media Development Authority.
SPH Media appointed Chan as CEO to lead the organisation’s next phase of digital transformation, with the company saying his experience in technology and digital disruption would help the organisation reach younger audiences and develop a sustainable commercial model.
His appointment as chairman would also mark a notable change: Chan would become the first SPH Media chairman who is not a former Cabinet minister.
FIVE YEARS OF TRANSFORMATION
Khaw became chairman in May 2021, when the media operations of the then publicly listed Singapore Press Holdings (SPH) were separated into a not-for-profit company limited by guarantee.
The restructuring was designed to reduce the pressure that the traditional advertising-funded media business faced from digital disruption and declining advertising revenues.
Under the new structure, 16 institutional members replaced commercial shareholders as custodians of the media business, reducing the emphasis on short-term profits and dividends.
SPH Media now operates a broad portfolio that includes The Straits Times, The Business Times, Lianhe Zaobao, Berita Harian and Tamil Murasu, among other media brands.
Khaw said the organisation currently reaches nearly nine in 10 digital and print readers in Singapore each week, while its newsrooms have expanded their presence across multiple platforms.
DIGITAL GROWTH AND INTERNATIONAL RECOGNITION
Khaw pointed to several developments during his tenure, including upgrades to digital products such as The Straits Times app and refreshed applications for SPH Media’s Chinese, Malay and Tamil publications.
The organisation also highlighted strong audience engagement during major national events, including coverage of the 2025 General Election and Singapore’s SG60 celebrations.
SPH Media’s publications have also received recognition from international media organisations, including the International News Media Association (INMA) and World Association of News Publishers (WAN-IFRA).
But Khaw acknowledged that the transformation is far from finished.
He said the company still needs to attract younger audiences, keep pace with technology and continue reskilling its workforce as the media landscape becomes increasingly fragmented.
KHAW’S REFLECTION: “I AM STILL NOT A MEDIA MAN”
In a separate interview with The Straits Times, Khaw reflected candidly on his five years leading SPH Media.
He said the experience did not turn him into a traditional media professional, but it gave him a deeper appreciation of the pressures faced by journalists and newsrooms.
Among the challenges he identified were pressure from newsmakers, readers and online audiences, as well as harassment directed at journalists.
He also said the organisation must continue experimenting with new formats and technologies while maintaining public trust and credibility.
THE BIG QUESTION: WHAT CHANGES UNDER CHAN?
The leadership change comes at a critical moment for Singapore’s media industry.
Traditional publishers worldwide continue to face competition from social media, video platforms, artificial intelligence and changing audience habits.
Chan’s background could prove particularly relevant to that challenge.
When he was appointed CEO in 2024, SPH Media said his experience in technology and digital transformation would help the organisation reach new audiences and build a sustainable commercial model.
Khaw himself appears confident in his successor, saying Chan’s experience in new media and technology gives him an advantage in navigating the industry’s next phase.
And that could be the most important part of this leadership transition.
Khaw helped steer SPH Media through the restructuring and stabilisation of its new operating model. Chan now faces the challenge of determining what the media organisation becomes next.
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