Stephen Riady, the current Chairman of the property and hospitality group OUE has taken up the role of CEO. And his son Brian Riady will assist him in setting the group's strategic direction as Deputy Chief Executive. 

Further, OUE has also appointed Ivan Lim Ming Rean as Chief Financial Officer (CFO), with effect from Wednesday. 

It was in October, when the company had first hinted towards these leadership changes. With Hock's expected retirement in 2020, the company had already started preparing its next leader for the transition. While Stephen comes with more experience and is recognized as Indonesian tycoon, his son has also held several leadership positions in the company and gained a lot of experience in a short span of time. 

The younger Riady was CEO of OUE's hospitality division in 2018. Prior to that, he was Vice-President of strategy at the family's Lippo Group from 2013 to 2018. Before Lippo, he worked as an analyst at Credit Suisse USA.

The father-son duo has to drive the company towards more growth from the height Hock has left it on. 

Hock as a leader has set a strong precedent for all the others to follow. He challenged the status quo and continued to work up until his 80s. Recognized as a passionate Evangelist at heart, Hock has created an impact beyond OUE. 

With an extensive experience in engineering, real estate (commercial and residential properties, hotels) property development and consultancy, he drove the business for OUE. He has also served as an Executive Director of Lippo Realty (Singapore) Pte Limited from 2005 to 2007, the Chief Executive Officer and Director of Target Realty Limited from 2001 to 2003, an Executive Director for City Project Management/  Property Development at City Developments Ltd from 1999 to 2003, and an Executive Director of Hotel Properties Limited from 1988 to 1999.

Now Riady's have to continue the great work that Hock has done for the company for more than 11 years and take their group to new heights. How would the two leaders from two extreme generations work together on giving their venture a new direction is to look forward to. 


Image Credits: BusinessTimesSG