Keppel: Piyush Gupta to Succeed Danny Teoh as Chairman in April 2025 | FY2023 Profit Up 29%
- Announced today, February 5, 2026, that Danny Teoh will retire as Chairman of the company immediately following the upcoming annual general meeting on April 17, 2026.
- Gupta has held the position of Deputy Chairman since July 1, 2025, having been appointed to the role in May 2025.
- Teoh, who has served as a Keppel director for over 15 years and as Chairman since April 2021, oversaw a significant transformation of the company.
Keppel Chairman Danny Teoh to Retire, Piyush Gupta to Take Helm
SINGAPORE – Keppel Ltd. Announced today, , that Danny Teoh will retire as Chairman of the company immediately following the upcoming annual general meeting on . Piyush Gupta, currently Keppel’s Deputy Chairman and a Non-Executive Independent Director, will succeed Teoh as Non-Executive Chairman and Independent Director on the same date.
Gupta has held the position of Deputy Chairman since , having been appointed to the role in . He also serves as a member of Keppel’s Nominating Committee, Remuneration Committee, and Board Sustainability & Safety Committee, positions he will continue to hold.
Teoh, who has served as a Keppel director for over 15 years and as Chairman since , oversaw a significant transformation of the company. According to Keppel, during his chairmanship, the company divested its offshore and marine business and transitioned from an industrial conglomerate into a global asset manager and operator focused on infrastructure, real estate, and connectivity.
Keppel also noted that the company’s share price more than tripled during Teoh’s five-year tenure as Chairman.
Gupta paid tribute to Teoh, acknowledging his leadership and “invaluable contributions” to Keppel. “I look forward to working closely with the board and management to continue driving Keppel’s growth story as it reinvents itself as a global asset manager with strong operating capabilities,” Gupta said.
Teoh expressed confidence in Gupta’s ability to lead the company forward. “Piyush is a highly respected business leader and I am very confident that under his chairmanship, Keppel will continue to grow and scale new heights,” he stated. He reflected on the journey of the past 15 years, noting the challenges of the offshore and marine sector downturn and the COVID-19 pandemic, as well as the successful shift in Keppel’s structure.
Keppel CEO and Executive Director Loh Chin Hua added that Gupta has provided “valuable advice” in the “sharpening and execution” of Keppel’s strategy since joining the board.
Prior to joining Keppel, Gupta served as CEO of DBS Group from until his retirement in , during which time he led the bank to become a global financial powerhouse.
Gupta currently holds several other prominent positions, including Chairman of Temasek India and as an alternate member of the Council of Presidential Advisers in Singapore.
The announcement comes as Keppel released its FY2025 report today, , reporting a 29 percent rise in full-year profit. This increase was attributed to improved performance across its three segments and higher recurring income, with profit from continuing operations reaching S$1.02 billion (US$801 million) for the year ended , up from S$787 million the previous year.
Keppel describes itself as a global asset manager and operator in sustainability-related solutions, spanning infrastructure, real estate, and connectivity. Following Teoh’s retirement, the Keppel board will consist of eight directors, seven of whom will be independent.