Singapore, Jan 11, 2010: Exploit Technologies, the commercialization arm of Singapore Agency for Science, Technology and Research (A*STAR), announced that Mr Boon Swan Foo stepped down as the Executive Chairman of the Board on December 31 2009. Mr Boon had served as Exploit Technologies’ Executive Chairman since the organization's inception in 2002.
Mr Tan Gee Paw, who has served on the Exploit Technologies’ Board as a founding director from October 2001 to October 2009, has been appointed as Chairman of the Board with effect from 1 January 2010. Mr Philip Lim, who joined Exploit Technologies in August 2009 as its General Manager, had assumed responsibility as the Chief Executive Officer on 1 December 2009.
Mr Boon Swan Foo said, “The next few years have the potential to be an exciting time for Exploit Technologies, making it an ideal time to further enhance the depth and strength of its senior leadership. We have exceptional management and industry expertise throughout the organization and, in conjunction with the new Board under Mr Tan Gee Paw’s chairmanship, I am confident that Philip will continue to advance our strong position as a leading commercialization evangelist in Singapore and beyond. Over the past years, Exploit Technologies has incubated a strong technology pipeline and built up an experienced management team; I am confident that Singapore will soon have our very own blockbusters on the world stage."
Mr Lim Chuan Poh, Chairman of A*STAR, said, "As the full-time Executive Chairman of Exploit Technologies from 2006, Swan Foo scored many successes in facilitating the transfer of A*STAR's technologies to the market, nurturing start-ups and implementing effective strategies to help incubate and patent technologies for commercialization. Under his watch, Exploit Technologies set up the Technology Transfer Network (TTN), which boasts of 24 members globally to date, and the Angel Investment Management initiative for aspiring entrepreneurs. He has also put together an outstanding management team and staff to carry on the good work at Exploit Technologies. I would like to acknowledge Swan Foo's role and dedication in developing Singapore's R&D landscape, and wish him all the best in his future endeavors."
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