Michael Sengol steps down as CEO of Meritus

Dr Stephen Riady,Executive Chairman of Singapore Exchange-listed Overseas Union Enterprise OUE Limited,announced the stepping down of Michael Sengol from his role as Chief Executive Officer of Meritus Hotels amp; Resorts.

8220;Michael has delivered the business objectives I set for him,and I am grateful for his contribution that led to greater awareness for our heritage hospitality brand and the unprecedented financial results he achieved for the division since taking helm at Meritus,8221; said Dr Riady.

In 2010,Michael returned to Singapore after many years of being overseas to take on the challenge of turning around the Meritus brand. Under his leadership,the brand received numerous recognition in the industry for productivity and

excellence.

Added Dr Riady,8221;As an organisation focused on driving growth,we intend to build on the successes that Michael has started for the hospitality division. Meanwhile,I wish Michael every success as he pursues his personal interests.8221;